Abstract
School Banking is significantly contributing in the financial inclusion of the students by providing them the opportunities to receive the privileged banking services designed and offered by the banks. The broad aim of school banking is to introduce the students with financial literacy and make them aware of modern banking facilities and bring them under umbrella of banking services that habituate the school going child with banking transaction so that the regular savings tendency may grow. Initially, Bangladesh Bank (BB) as the central bank of Bangladesh inaugurated the concept of school banking scheme and instructed all the scheduled banks to open and maintain the student accounts. Dutch Bangla Bank Ltd.(DBBL) like the other scheduled banks inaugurated the banking services specially for the school going students and contributed immensely to make the initiative successful. The purpose of the paper is to explain the related concepts of school banking and unveil its contribution and explore the emerging prospects in the years to come where DBBL has been considered as a case. The study collected the data from secondary sources while the consecutive four years’ published annual reports of Bangladesh Bank, DBBL and BANBEIS were considered for the analysis. Trend analysis and descriptive statistics with the help of SPSS software and Microsoft excel were used to summarize and analyze the data. The paper resulted that DBBL performed well with positive growth though the rate of progress is slow. In line with this, the study forecasted an estimated upward trend in terms of account opening and deposit collection for future two years instead of having numerous existing barriers faced by DBBL. To ensure the smooth and rapid growth, Bangladesh bank along with all the stakeholders should emphasize on working together to promote the concept of banking for the students . Keywords: school banking, financial inclusion, financial literacy, dutch bangla bank Ltd. (DBBL). DBBL school savers account, policy guideline of school banking. DOI: 10.7176/EJBM/12-6-09 Publication date: February 29 th 2020
Highlights
A mentionable part of the country’s population is school going children
The data which were considered for the description and analysis, derived mainly from the published annual reports of Bangladesh Bank (BB) and Dutch Bangla Bank Ltd. (DBBL) and Bangladesh Bureau of Educational Information and Statistics (BANBEIS) in between the year 2014 to 2018
In terms of deposit collection, Dutch-Bangla Bank Limited (DBBL) is at the peak of all scheduled private commercial banks in Bangladesh
Summary
A mentionable part of the country’s population is school going children. Besides civic education, hygiene knowledge and academic literacy, financial literacy is important for a student (Bowman 1922). To comply the policy guideline of school banking, Dutch-Bangla Bank Limited (DBBL), a scheduled joint venture commercial bank in Bangladesh (Rana et al 2012) started school banking scheme named DBBL school savers account in 2011 soon after the instruction of BB. Under this type of account, students can enjoy the regular banking services like depositing, withdrawal and other banking services without any bank fee or charges. School banking as a part of inclusive financial system in the economy enables the students to be discreet in money management, financially empowered; a student can contribute in attaining the long term development of the economy
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