School students in Bangladesh are increasingly encouraged to save, contributing significantly to the economy. Despite a temporary decline due to high inflation, the number of savings accounts and deposits has risen, with total savings reaching Tk2,406 crore by the end of June. The Bangladesh Bank’s initiative of school banking has received a positive response, leading to a 2.60% increase in the number of accounts to 4,411,916 compared to the previous quarter, and an 11.22% increase year-on-year. Rural students are more active in opening accounts, with 55.77% of total accounts held in rural areas. As of June, deposits grew by 9.60% from the previous quarter. Boys hold 50.67% of the accounts, but girls have seen a higher percentage increase in both account numbers and deposits. Most accounts (71.69%) are opened in private banks, with the top five banks holding 58.68% of all accounts. The school banking program, initiated in 2010, aims to familiarize students with banking services and foster a saving habit, with 59 banks currently offering these accounts. No fees are charged for maintaining accounts, making it accessible for students.
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