Bangladesh wins int�l award for school banking

Bangladesh has won the Child and Youth Finance International (CYFI) Country Award 2015 from Asia and the Pacific region for massive financial inclusion activities, particularly in the area of Bangladesh Bank’s school banking, reports BSS.
Launched in 2010 by the central bank, school banking has emerged as one of the core components of the financial inclusion programmes in Bangkadesh.
Last year, Singapore received the same award from this region. This year India and Fiji were two other nominated countries for the award, but finally Bangladesh won the crown. Bangladesh Bank (BB) Executive Director Abdur Rahim received the award at the 4th Annual CYFI Awards Ceremony, held at the House of Lords in London on Thursday.
“This is another milestone achievement for Bangladesh branding her as a role model for financial inclusion”, Governor Atiur Rahman told the news agency yesterday over phone.
CYFI is a Europe based global network of 36 million children and youth across 125 countries that works for enhancing the financial capabilities of children and youth.
Under the school banking scheme, students can now open bank accounts with initial deposits of only Tk 100 with no charges or fees applicable on such accounts. More than 9,00,000 such accounts have been opened so far with total deposits of around Tk 700 crore. Working street children have also been brought into the net of formal financial system in 2014 and parents can now pay the school fees for their children throw mobile financial services.
Earlier, Bangladesh Bank’s innovative inclusive financing programmes earned national and global accolades like by the Banker (a subsidiary of the Financial Times) and Euromoney magazine (a subsidiary of Euromoney), awarding Dr. Atiur Rahman as the ‘Best Central Bank Governor of the Year in Asia’.

Bangladesh wins int�l award for school banking

Bangladesh has won the Child and Youth Finance International (CYFI) Country Award 2015 from Asia and the Pacific region for massive financial inclusion activities, particularly in the area of Bangladesh Banks school banking, reports BSS. Launched in 2010 by the central bank, school banking has emerged as one of the core components of the financial inclusion programmes in Bangkadesh. Last year, Singapore received the same award from this region. This year India and Fiji were two other nominated countries for the award, but finally Bangladesh won the crown. Bangladesh Bank (BB) Executive Director Abdur Rahim received the award at the 4th Annual CYFI Awards Ceremony, held at the House of Lords in London on Thursday. This is another milestone achievement for Bangladesh branding her as a role model for financial inclusion, Governor Atiur Rahman told the news agency yesterday over phone. CYFI is a Europe based global network of 36 million children and youth across 125 countries that works for enhancing the financial capabilities of children and youth. Under the school banking scheme, students can now open bank accounts with initial deposits of only Tk 100 with no charges or fees applicable on such accounts. More than 9,00,000 such accounts have been opened so far with total deposits of around Tk 700 crore. Working street children have also been brought into the net of formal financial system in 2014 and parents can now pay the school fees for their children throw mobile financial services. Earlier, Bangladesh Banks innovative inclusive financing programmes earned national and global accolades like by the Banker (a subsidiary of the Financial Times) and Euromoney magazine (a subsidiary of Euromoney), awarding Dr. Atiur Rahman as the Best Central Bank Governor of the Year in Asia.