UNB
Published:
The number of individual bank accounts holding Tk 1.0 crore or more in Bangladesh increased by over 7,000 during the one-and-a-half-year tenure of the Dr. Muhammad Yunus-led interim government, according to the latest figures from Bangladesh Bank.
It means that the number of rich people have increased in the country during the period of the interim government in the country.
Central bank data from its latest ‘Banking Sector Update’ shows that individual crore-taka accounts rose from 33,629 in September 2024 to 40,645 by the end of March 2026. This represents an addition of 7,016 new accounts—a growth of nearly 21 percent.
Total deposits held in these high-value individual accounts increased from Tk 87,200 crore in September 2024 to Tk 91,400 crore in March 2026.
Economists and banking sector analysts noted that a 21 percent surge in crore-taka accounts within such a short span—amid high inflation, economic stagnation, historically low private sector credit growth, and persistent poverty pressures—does not fully align with typical economic trends, calling for an in-depth investigation into the underlying drivers.
A senior Bangladesh Bank official, speaking on condition of anonymity, suggested that following the political changeover, new influential groups emerged across various sectors. A portion of funds generated through illegal activities, such as extortion and land grabbing, may have entered the banking system, contributing to the rise.
However, former Finance Adviser and former central bank Governor Dr. Salehuddin Ahmed noted that multiple factors could be involved.
He explained that following the reconstitution of the board of directors at several weak banks, many depositors withdrew their fixed deposit receipts (FDRs) and transferred them to relatively stronger banks. He added that the emergence of a new business class and a preference for keeping liquid cash in banks might have also played a role.
Addressing whether individuals connected to new power centers rapidly accumulated wealth, Dr. Salehuddin remarked that when control over business and economic activities shifts to new groups following political changes, it naturally impacts bank account figures.
Meanwhile, central bank data does not strongly support the notion that the surge was driven merely by people depositing cash previously held at home. Cash held outside the banking system by the public actually grew from Tk 283,553 crore in September 2024 to Tk 303,018 crore by March 2026.
Dr. Toufic Ahmad Choudhury, former Director General of the Bangladesh Institute of Bank Management (BIBM), stated that alongside deposit transfers from weak banks and the rise of new business elites, sluggish private sector investment prompted wealthy individuals to keep large funds parked in bank fixed deposits.
During the interim government’s tenure, the boards of 16 private banks were reconstituted alongside major leadership changes in several others. During the same period, private sector credit growth dropped to historical lows, leading commercial banks to invest heavily in government Treasury bills and bonds.
Commenting on the matter, Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan said the central bank has tightened oversight to enforce good governance in the banking sector. He stated that while prevailing economic conditions could explain part of the growth, necessary action would be taken if any involvement of illicit or undisclosed money is uncovered.
Source: https://thefinancialexpress.com.bd/economy/number-of-crorepatis-jumped-by-21pc-during-interim-govts-tenure-bangladesh-bank-data
