The selection of bank accounts — retaining Tk1 crore or extra — elevated by 2,894 in the April-June quarter which is the closing beefy quarter below the ousted Sheikh Hasina government.
Based fully on recordsdata from the central bank, the selection of accounts with extra than Tk1 crore stood at 1.19 lakh on the discontinuance of June, up from 1.16 lakh on the discontinuance of the March quarter.
As of June, total deposits in Bangladeshi banks amounted to Tk18.39 lakh crore, with Tk7.73 lakh crore—accounting for 42%—held in accounts with deposits exceeding Tk1 crore. Notably, government ministries and companies handle approximately 40,289 of these accounts, while particular person yarn holders number spherical 34,481, retaining extra than Tk1 crore. Moreover, almost about 44,000 accounts are linked to non-public institutions and companies.
Fahmida Khatun, govt director of Middle for Policy Dialogue (CPD), knowledgeable The Industrial Frequent that folks with mounted incomes are less possible to peer their accounts develop into crores of taka. Moreover, because of high inflation, each and each tiny and full companies are struggling, which has deterred them from making well-known fresh investments. In consequence, there had been fewer alternatives for yarn balances to achieve crore taka all through this inflationary period.
The economist told the central bank to research anonymous bank deposits. While the upward thrust in bank deposits is definite, most up-to-date conditions, alongside side Matiur’s corruption case, elevate concerns. Moreover, there are reviews of anonymous deposits linked to corruption. With an increasing selection of accounts retaining crore taka, it is some distance critical to take a look at whether or no longer the accounts are unsuitable accounts.
Fahmida Khatun infamous that the upward thrust in the selection of accounts retaining Tk1 crore or extra may per chance even be attributed, in phase, to the rising inequality in society.
The central bank’s recordsdata indicates that deposits in the banking sector grew by Tk76,534 crore in the June quarter, with deposits in crore taka accounts rising by approximately Tk43,625 crore.
A managing director of a non-public bank acknowledged the selection of accounts with over Tk1 crore has step by step elevated in the past 4-5 years, essentially amongst institutions and companies. Despite the incontrovertible fact that many entrepreneurs battle with inflation, full traders win seen rising earnings, contributing to the growth in deposits in these accounts.
Alternatively, the total image stays referring to. Based fully on recordsdata from the Bangladesh Bank, out of the total 15.85 crore bank accounts, 72%, or 11.43 crore, win deposits lower than Tk5,000. An sensible of Tk590 is deposited in these accounts. In other words, the quantity of bank deposits of a full phase of the oldsters in the country is at its lowest level.
This statistic underscores the stark financial inequality fresh in the nation, highlighting that a well-known fragment of the inhabitants maintains minimal financial savings in the banking system.