No-frill account (NFA) deposits fell by 4.01% to Tk 45.32 billion in Q3 2024, raising concerns about reduced credit access for low-income groups and small businesses. NFAs, with initial deposits as low as Tk 10/50/100, are key to promoting financial inclusion, enabling savings, credit, and remittances for marginalized communities. At the end of September, 32.33 million NFAs held over Tk 67.66 billion, with Tk 10 accounts under social safety net programs comprising 37.3%. Tk 7.27 billion in credit from a Tk 7.5 billion refinance scheme supported account holders. Inward remittances through NFAs also totaled Tk 7.27 billion, further empowering rural families. School and street children’s accounts showed modest growth.
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