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Editorial

Bank accounts for the ultra-poor

Easing rate of poverty in the country


Bangladeshpost
Published : 19 Sep 2019 06:54 PM | Updated : 01 Sep 2020 06:51 PM

A government initiative to change the lives of people living below the poverty line has transformed the lives of many. In the district of Jhenaidah many have overcome poverty and have changed their lives for the better. 

As per the instruction of Prime Minister Sheikh Hasina for an “Economically Sound Bangladesh”, branches of Bangladesh Krishi Bank in Jhenaidah have opened 10 taka account for 81,697 ultra-poor of the district. 

The initiative has encouraged poor people to partake in bank transactions as opposed to the traditional savings at home which is often unsafe. The account holders have been running small businesses in the locality and managing their families quite well. 

The programme is helping them improve their socio-economic status. Following a government initiative to ameliorate the financial condition of the ultra-poor and marginalized people of the country, in September 2010, Bangladesh Bank instructed public banks to help the ultra-poor open the 10 taka accounts so that they can get the benefits of the safety net programmes.


The initiative has encouraged

 poor people to partake 

in bank transactions as opposed 

to the traditional savings at

 home which is often unsafe


Experts are of the opinion that the Tk 10 bank account concept is a brilliant move to help ease poverty in the rural regions of Bangladesh. The sector of microfinance is definitely something that is beneficial for the economical development of Bangladesh. 

Tk 10 bank accounts are helping people secure their savings and also encouraging them to take better financial decisions which are helping them improve their overall quality of life. It also gives them a sense of financial security despite being on a macro level. 

Hopefully, the initiative will be implemented all over the country to help both the rural and urban poor transform their lives for the better. The government must be lauded for this wonderful initiative as it is undoubtedly a step in the right direction for the country.