Six thousand new millionaires in three months, while ordinary people left with nothing

Despite anti-discrimination movements, bank account statistics show a naked picture of discrimination

Staff Correspondent

The latest report of Bangladesh Bank has once again made it clear that money in the country is being deposited only in the hands of the rich, while the common people are becoming more helpless. At the end of the June quarter, the number of bank accounts in the country with a balance of more than one crore taka stood at 1,27,336. Just three months ago, the number was 1,21,362. That is, about six thousand new people or institutions have entered the ‘crore taka club’ in the April-June quarter.

Not only the numbers, but also the amount of money deposited in these accounts is shocking. At the end of June, deposits in crores of taka stood at 8 lakh 80 thousand 772 crore taka—an increase of about 97 thousand 119 crore taka in three months.

The question is – where did this huge amount of money come from? Who are these wealthy people? How legitimate is their source of income? There is no answer, because Bangladesh Bank does not disclose ownership.

On the other hand, this banking sector is a nightmare for the poor and middle class. At the end of June, the total number of bank accounts in the country stood at about 17 crore. Of these, about 3.3 million new accounts were added in the last three months. But the total increase in deposits of these new customers is only 73,750 crore taka—which is insignificant compared to the rich. The reality is that the poor are depositing nominal money in banks, while the rich are depositing mountains of money.

Economists say this picture is a naked manifestation of inequality. On the one hand, deposits worth crores of taka are growing every day, while on the other hand, most of the country’s people are struggling to buy daily necessities. However, neither the government nor Bangladesh Bank is taking effective steps to prevent this inequality. Rather, benefits are increasing for the rich, while the fate of the poor is only empty.