BB to introduce banking for street children on May 31

FE Team | Published: May 29, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

After introducing various types of banking services for farmers, sharecroppers and some other underprivileged people, Bangladesh Bank (BB) is now set for bringing street children under institutional financial support, reports BSS
Governor Dr Atiur Rahman will inaugurate the new horizon of banking services on May 31(Saturday), which would help children develop their savings habits and eventually help them step forward towards better future.
Earlier on March 10 this year, the central bank in a circular asked all banks to allow street children and child workers open bank accounts by taking a deposit of Tk 10 only, which is similar to the accounts of farmers and others who cannot afford normal banking services.
Following the directive, 10 banks so far teamed up with the non-government organisation Save the Children. They will offer the services to the destitute children who have no option than live and work in railway stations, bus and ferry terminals and slums and footpaths.
The 10 banks are Rupali Bank, Agrani Bank, Pubali Bank, One Bank, National Bank, Southeast Bank, Bank Asia, City Bank, NCC Bank and Bangladesh Krishi Bank.
"The other banks will follow the suit in phases," BB Executive Director M Mahfuzur Rahman told the news agency.
He said the central bank took the initiative for the street children to help develop saving habits among them, and reduce the trend of their derailment from the right path by protecting their greater interest.
As per the BB guideline, all the accounts should be operated by the non- government organisations (NGOs), nominated by the central bank.
The NGOs concerned will nominate at least two of their staffs
for doing these jobs. Among the two employees, one should be from the accounting department and the other from the field level.
However, the NGOs should take the overall responsibility of operating the accounts until the street children and the child workers reach the age of 18 years. The NGOs and the banks concerned will sign agreements to operate the accounts.
There will be no fees for these accounts, but the account holders will not get online transaction facility, meaning no debit or credit cards would be issued by the banks. Withdrawal should be done by using cheques or other physical debit instructions.