Regulatory Alerts2014-03-09
Added · Updated
BRPD Circular No. 05: Banking Services for Street Urchin and Working Children
The circular mandates scheduled banks to open savings accounts for street children and working children/adolescents at a minimum deposit of 10 Taka, managed by designated non-governmental organizations (NGOs). It requires NGOs to appoint at least two authorized officers to handle account operations and assumes full liability for deposits and withdrawals, while prohibiting the issuance of debit or credit cards against these accounts. Banks must provide quarterly reports on all transactions to the Green Banking and CSR Department and pay interest twice a year based on the highest savings deposit rate, with no service charges allowed.
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