How going online could transform financial accountability in private schools

TECHEXPRESS DESK | Published: February 22, 2026 22:16:00

For decades, the financial offices of many private schools and colleges across Bangladesh have revolved around cash counters, handwritten receipts and bulky ledger books. That culture is now set for a dramatic shift. With the government mandating online payment gateways for all student fees and institutional income, the era of envelope-based transactions is being pushed aside in favour of digital accountability.
Under the newly introduced Financial Transparency and Accountability Policy 2026, issued by the Secondary and Higher Education Division of the Ministry of Education, institutions must collect tuition fees, session charges and other income exclusively through government bank online gateways, such as the Sonali Payment Gateway (SPG). Except in emergencies or natural disasters, cash transactions are no longer permitted.
The reform is more than a technical adjustment; it signals a structural change in how private education finances are managed. By requiring every transaction to pass through a traceable digital platform, the government aims to eliminate informal collections, reduce opportunities for misreporting and ensure that funds are properly documented.
A key component of the reform is the introduction of an online 'e-Cash Book', to be developed by the Directorate of Inspection and Audit (DIA). Each voucher will have to be digitally recorded, creating an auditable financial trail. In a sector serving more than 10 million students across over 22,000 private institutions, the move could significantly alter governance practices.
Critics may point to challenges such as digital readiness in rural areas or resistance to change. Yet proponents argue that digital payments offer convenience for parents, reduce administrative burdens and, most importantly, strengthen transparency.
If implemented effectively, the transition from cash counters to clicks may not only modernise financial management but also restore public trust in private educational institutions.