BB financial inclusion programme gets popular

Anisul Islam Noor

7 July, 2019 12:00 AM printer

People’s engagement in the central bank’s financial inclusion programme have enhanced as some 19,217,047 accounts have opened as of March 31 this year while some Tk2000 crore deposited.

The financial activities are being conducted though these accounts and people are finding themselves in the economic dynamism.

According to Bangladesh Bank, different commercial banks opened a total of 19,217,047 accounts till March 31, 2019 and a total of Tk 1908.84 crore deposited during this period. It is the highest deposit made to these accounts since the inception of such programme in 2010.

Besides, Tk 155.79 crore remittances also have been deposited through 36,344 of such Tk10 accounts so far.

Among the account holders, 99,89,906 are farmers; 26,32,787 ultra-poor; 2,39,451 freedom fighters; 51, 25,164 social safety net beneficiaries; 62,981 under food support and livelihood project; 1,434 grant receivers under the ministry of religious affairs; 9,878 cleaners of city corporations; 2,65,552 are RMG workers; 4,072 are LSBPC project’s included technicians; 56,120 are beneficiaries of national service project,  1,19,683 are small life insurance policy holders, 1,99,173 are impaired groups of people and 5,09,886 are miscellaneous including beggar.

Bangladesh Bank instructed public banks to help the ultra-poor open the Tk-10 accounts so they can get the benefits of the safety net programmes. The

private commercial banks later followed suit of their state-owned peers.

In September of 2010, Bangladesh Bank instructed public banks to help the ultra-poor open the Tk-10 accounts so that they can get the benefits of the safety net programmes. Private commercial banks later followed suit of their state-owned peers.

The use of the account has helped underprivileged people engage in various economic activities and change their lives.

The marginal and landless farmers, small shop owners, hawkers and people affected by river erosion now take loans under a Tk 200-crore refinance scheme of the central bank by using the accounts for an interest rate of 9.5 percent. Later Freedom Fighters (FFs) and persons who deserve social allowances under social safety net programme were also included in the scheme.

AKM Fazlur Rahman, Executive Director of Financial Inclusion Department of central bank, told daily sun on Thursday it was a breakthrough initiative of broadening financial access and achieve inclusive economic growth.

“We are happy to see the success of financial inclusion initiative and a huge response of poor, ultra-poor people as such an initiative is new to Bangladesh Bank,” he said.

In a move to further consolidate and better coordinate the financial inclusion initiatives in the central bank and of other public and private sector stakeholder, Bangladesh Bank has established a separate department titled Financial Inclusion Department in July 2015, said Fazlur Rahman.

A total of 88,93,415 people benefited through the state-owned banks.

Among them Sonali Bank gave service to highest 35,38,965 people, Agrani 16,96,396 people, Janata 11,92,026 people, Rupali 2,26,987 people, BDBL 1,568 people, BASIC Bank 4,552 people, Krishi Bank 14,29,736 people, and Rajshahi Krishi Unnayan Bank 8,03, 225 people.


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