Recent data from the central bank indicates a decline in savings within school banking accounts, despite an increase in student enrollment. Bangladesh Bank data shows Tk 21.79 billion saved in December 2023, decreasing to Tk 21.36 billion in January this year, reflecting a nearly 2% decrease. The school banking program, established in 2010 to promote financial literacy among youth, offers benefits like fee waivers and lower minimum balance requirements. The slowdown in savings growth is attributed to higher inflation rates, impacting lower and middle-income families’ purchasing power. Ongoing economic challenges have led to stagnation in growth, although efforts persist to engage students in financial inclusion initiatives.
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