Sheikh Mohammad Maroof
Managing Director, Dhaka Bank

The Daily Star (TDS): Why is school banking pivotal for individual development and national advancement?

Sheikh Mohammad Maroof (SMM): School banking or student banking is crucial for developing financial literacy and fostering responsible future citizens by equipping students with essential skills such as saving, budgeting, and financial planning. From a national perspective, financially aware individuals contribute to economic stability, reduced debt dependency, and sustainable development. By cultivating these habits at an early age, we are not only empowering students for their future but also building the foundation for a stronger, more resilient economy that benefits the entire nation. A saving tendency established in early stages is vital for the country, aiding its sustainable growth.

TDS: What has been the recent response to school banking initiatives in the country?

SMM: So far, the response to school banking initiatives in our country has been very encouraging. As of 30 September 2024, students across the nation have opened 4.3 million accounts, with total deposits reaching Tk. 2,135.27 crore. This reflects growing awareness and enthusiasm for financial literacy among young people. With stronger collaboration between banks and educational authorities, we are confident that this initiative can achieve even greater heights, benefiting students nationwide.

TDS: How does your bank facilitate school banking?

SMM: Dhaka Bank is profoundly committed to nurturing financial habits in children, thereby preparing them to become future clients and responsible citizens of the country. Through tailored student accounts, savings schemes, and educational initiatives, we empower students to manage their money wisely.

Our bank offers comprehensive, student-focused financial solutions, including School and University Banking Accounts with accidental insurance and monthly payouts, ensuring security during their education.

The Edu-Savings Plan fosters savings habits in students, while Student File Services simplify the management of overseas education funding. Aspire Student Prepaid Cards enable secure expense management, and Tuition Support Loans ensure access to quality education.

In addition to our current range of products, we plan to design more offerings that blend technology with student habits to meet their specific needs.

To attract Gen Z, Gen Alpha, and the emerging Gen Beta, Dhaka Bank is working to integrate technology, personalisation, and sustainability into its offerings. For example, we plan to provide discounts and reward points for purchasing technology-related and popular products, including AI learning tools, data warehousing solutions, and machine learning software, using Dhaka Bank cards.

Moreover, the bank intends to upgrade branch environments to be more welcoming and comfortable for students. Flagship branches will feature dedicated corners equipped with child-friendly designs, gadget charging stations, and spaces for collaboration or relaxation. We aim to ensure a seamless and engaging experience that aligns with their values and preferences.

Furthermore, as part of our commitment to financial inclusion, we regularly conduct Edu-Campaigns in various educational institutions. We plan to extend these campaigns to rural areas to engage children from marginalised populations. Our products, such as Edu-Savings and Nano-Savings, encourage small deposits, ultimately securing the future of rural students.

These initiatives reflect Dhaka Bank's dedication to empowering students, promoting financial literacy, and supporting their academic and personal development. As these students grow into future leaders of the country, we aspire to be part of their journey. By securing their financial futures today, we invest in a brighter, more prosperous tomorrow for all.