BB governor urges banks to partner with schools to boost banking literacy

Bangladesh Bank Governor Ahsan H Mansur has urged all commercial banks in the country to actively engage with schools to enhance banking literacy among students from an early age.

"Each school should be brought under the umbrella of a bank. Banks should assign officials to visit every school two to three times a year. These officers will engage with students, help them open accounts, and introduce them to the fundamentals of banking," he said today (24 May) while addressing the inauguration ceremony of the "Credit Enhancement Scheme (CEC)" by the Palli Karma-Sahayak Foundation (PKSF) at the PKSF auditorium in Dhaka.

"At present, students' interest and knowledge about banking are virtually non-existent. Even if they save only Tk20, Tk50, or Tk100, banks should work with them. Developing this habit early will shape financially responsible citizens in the future," he added.

Mansur also addressed gender inclusion in the banking sector, particularly in agent banking services. He called on all banks to ensure that at least 50% of their agent banking representatives are women.

"To break social taboos and improve women's financial inclusion, we need to bring women to the forefront of banking. Female officials of agent banking should be allowed to visit households, even bedrooms, if necessary, to explain the benefits of banking to housewives.

"They should be encouraged to deposit their savings in banks rather than keeping cash at home. If needed, arrangements should be made for women to deposit money privately with banking agents," added the central bank governor.

He also said that work was underway to bring Bangladesh into a cashless transaction system. "Every year, we spend thousands of crores of taka on cash management. If transactions become cashless, it will be hassle-free and management will be easier."