In a significant stride towards fostering financial literacy and savings habits among young learners, school banking programmes have now been implemented in nearly 26,454 educational institutions across Bangladesh. According to the latest data from Bangladesh Bank, over 4.8 million students currently hold bank accounts under this initiative, with total deposits surpassing BDT 21,700 crore. While the country hosts more than 400,000 educational institutions, the school banking programme has emerged as a crucial mechanism for instilling early financial discipline and awareness among students.
Under directives issued by Bangladesh Bank, from March this year onwards, all commercial bank branches have been instructed to enrol at least one educational institution in the school banking programme. Banks are tasked with conducting regular financial education sessions, facilitating account openings for students, and ensuring smooth transactional operations. Additionally, they have been encouraged to implement measures to enhance students’ technological and digital banking skills. Each branch is required to report progress quarterly to the central bank, ensuring consistent monitoring and evaluation.
Recent statistics indicate that 52.74% of school banking accounts have been opened in rural areas, while 47.26% are in urban centres. Schools located in the capital city, other city corporations, and municipal areas fall under the urban branch framework. Participation among students is almost evenly split by gender, with 50.81% boys and 49.19% girls actively engaging in the programme. Out of the 61 licensed banks in the country, 59 are actively managing school banking operations.
Bangladesh Bank has also introduced a special arrangement whereby student accounts are automatically converted into regular savings accounts upon reaching the age of 18, with 1.187 million accounts already transitioned in this manner. Each branch has been assigned a target of opening at least 300 new student accounts during the year, including a specific goal of 100 accounts for the month of September alone.
Prior to 2010, only individuals over 18 were eligible to open bank accounts. The school banking initiative now allows students to open accounts with a valid school ID and a minimum initial deposit of BDT 100, while parental consent remains mandatory for minors under 18.
This nationwide initiative is not merely a banking programme—it is a strategic investment in the financial empowerment of Bangladesh’s younger generation. By encouraging prudent saving habits, enhancing financial literacy, and promoting digital skills, school banking equips students with the tools necessary for a secure and financially independent future, laying the foundation for a more inclusive and sustainable economy.