Regulatory Alerts2026-02-09
Added
FID Circular No. 01: Student Banking Guidelines
The document establishes a uniform policy framework for banks to provide student banking services, replacing the previous School Banking initiative with an expanded 'Student Banking' model for students under age 25. It mandates that accounts can be opened with an initial deposit of BDT 100 and distinguishes between students under 18, who require guardian consent and operate with limited transaction caps (maximum monthly withdrawal of BDT 15,000 or BDT 25,000 with guardian request), and those aged 18–25, who may operate independently. The guidelines require banks to offer specific fee discounts for youth accounts, facilitate digital payments for tuition fees, and ensure at least one educational institution partnership per branch while prioritizing marginalized communities. Additionally, it sets rules for international transactions for freelancers aged 18–25, mandates full KYC conversion upon turning 25, and prohibits cheque books for under-18 accounts.