Banks asked to open accounts for garment workers

The central bank asked all scheduled banks to open bank accounts for apparel workers with an initial balance of Tk 100.The Green Banking and CSR Department of Bangladesh Bank issued a circular in this regard yesterday.There will be no obligation of maintaining minimum balance, and banks cannot charge any fees for the services, according to the circular. Garment workers must show the copy of their national and employment identity cards to open their accounts.Banks can transact against these accounts on vouchers if they (banks) run short of cheque books, BB said.Respective banks have to submit reports on the update of these accounts to the banking regulator on a quarterly basis.Earlier, the BB helped farmers open bank accounts with Tk 10 only, and nearly 1 crore farmers have come under the banking services though many of the accounts remain unused.