A street child can now open a bank account just for Tk 10.
Bangladesh Bank has instructed all banks through a circular Sunday to bring the poor and underprivileged section of people under banking services to improve their lives.
The initiative aims at building the habit to save among them and protecting their hard-earned income.
The central bank will make a list of the NGOs eager to operate the accounts on behalf of the children, the circular says.
In listing the NGOs, their reputation, credibility, experience and infrastructure will be taken into consideration, it says.
Before that, they must apply to the Green Banking and CSR Department of Bangladesh Bank to be on the list.
There will have no need of a nominee against a street and working child’s bank account. The formalities will have to be observed in full when the child comes of age.
No service charge or fees will be deducted for running such accounts. A child will have highest savings interest rate depending on their accounts’ stability in June and Dec.
Bangladesh Bank had earlier introduced a similar system for farmers, who can open an account for Tk 10
Source: bdnews24
