Banks instructed to operate school banking via nearby branches

Bangladesh Bank has instructed all scheduled banks to conduct school banking activities through their nearest branches, ensuring that students can directly access services.

The central bank issued a notification on Sunday, outlining that every scheduled bank branch must facilitate school banking operations within its proximity.

This will allow students to avail of all types of banking services from their designated branches.

Banks will determine school selections to prevent overlapping.

The notification also said banks must take initiatives to raise students’ awareness of account opening and management, financial education, and technological skills.

All banks must also comply with Bangladesh Bank’s directives on the matter.

Bank branches have been instructed to report school banking activities to the relevant central bank office on a quarterly basis.

The directive has taken immediate effect.

According to the notification, Bangladesh Bank had adopted a policy to bring nearby educational institutions under school banking services, ensuring students’ financial inclusion and familiarising them with different financial services.