The school banking system is becoming popular in Chandpur district day by day. It is estimated that over 4, 200 savings have been in operation and one and a half million taka has been deposited in these accounts.

The students and their guardians are happy over introducing of the school banking system. They are enthusiastic and active in this new banking system. The school banking programme has been launched in the country in a bid to instill the habit of savings from an early age.

Talking to the Bangladesh Post, many guardians said that the school banking will teach their children money management skills that may be useful for the rest of their lives.

In order to encourage savings among school students, Bangladesh Bank allowed commercial banks to start school banking activities from November 2010. Initially, involvement of students continued to gradually grow in this activity.

Responsible officials of Bangladesh Bank said that a significant part of the population is school students. If affiliated bank officials, teachers and guardians of self-education institutions are more sincere, the popularity of school banking will increase day by day.

According to a senior official of Janata Bank Chandpur, the city’s students are more interested in opening accounts for school banking with deposits of Tk 1.5 billion in savings against 4, 252 accounts till March this year.

20 branches  of Sonali Bank holds 92 lakh 61 thousand taka, 17  branches in Janata Bank with 839 accounts holds 69 lakh 83 thousand taka, 28 branches of Krishi Bank holds 13 lakh 7 thousand taka, and 17 branches of Agrani Bank holds Tk. 50 lakh taka against 1 thousand 9 48 accounts.

An official of Chandpur Sonali Bank said, “School banking was launched to introduce the new generation to banking activities. Economies are stagnant without bank. From childhood they can save money and spend it in their education life. In fact, many of our youth cannot understand the banking process and need the help of others. So, school banking activities teach them banking curve from the a young age.”

At present, 55 banks have started school banking. Private banks are ahead in opening school banking estimates in comparison to the public sector banks. Interested students from the age group of 11 to 18 years i.e. from class six to twelve can open bank accounts with their parents or legal guardian.

With the initial deposit of only 100 taka , this account can be opened in most bank branches in Bangladesh. As a result, no fee or charge is imposed. There is no obligation to even keep the minimum status.

Abdul Ghani, Chandpur