Bangladesh gets another award for financial inclusion
Bangladesh Bank (BB) has recently included almost 1 million school students under the formal financial system, through massive school banking initiatives. From 2010 onwards, Bangladesh Bank's programs for greater financial reach in the country enabled students to open Bank accounts with deposits as low as Tk 100 with no charges/surcharges for operation. While promoting Financial Inclusion as per the Prime Minister's vision for growth of the country, multi-stakeholder school banking was a massive success. This has been rewarded not only as sustainable development of the economy, but also formally by receiving Child and Youth Financial Inclusion Award (CYFI) 2015.
The CYFI 2015 award, awarded previously to Singapore, has been given to Bangladesh in the 4th Annual CYFI Awards Ceremony, at the House of Lords in London on December 10. Bangladesh has won it for the Asia Pacific region, topping competitive India and Fiji for this segment. The Executive Director of BB received the award. CYFI is an Europe based worldwide network of 36 million children and youth across 125 nations working to progress financial confidence and facilities for the young.
The Governor of BB stated this achievement as a "reaffirmation" of Bangladesh's new approach towards developmental central banking, aiming towards the Prime Minister's broad based, inclusive and poverty free society.
Bangladesh Bank (BB) has recently included almost 1 million school students under the formal financial system, through massive school banking initiatives. From 2010 onwards, Bangladesh Bank's programs for greater financial reach in the country enabled students to open Bank accounts with deposits as low as Tk 100 with no charges/surcharges for operation. While promoting Financial Inclusion as per the Prime Minister's vision for growth of the country, multi-stakeholder school banking was a massive success. This has been rewarded not only as sustainable development of the economy, but also formally by receiving Child and Youth Financial Inclusion Award (CYFI) 2015.
The CYFI 2015 award, awarded previously to Singapore, has been given to Bangladesh in the 4th Annual CYFI Awards Ceremony, at the House of Lords in London on December 10. Bangladesh has won it for the Asia Pacific region, topping competitive India and Fiji for this segment. The Executive Director of BB received the award. CYFI is an Europe based worldwide network of 36 million children and youth across 125 nations working to progress financial confidence and facilities for the young.
The Governor of BB stated this achievement as a "reaffirmation" of Bangladesh's new approach towards developmental central banking, aiming towards the Prime Minister's broad based, inclusive and poverty free society.
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