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Data shows rapid increase of multimillionaire depositors in last six months

  • Published at 12:59 pm September 12th, 2017
  • Last updated at 01:41 pm September 12th, 2017
Data shows rapid increase of multimillionaire depositors in last six months
The number of multimillionaire depositors in Bangladesh has increased by 3,913 in the span of six months, according to a report published by Bangladesh Bank on Sunday. The report stated that the number of multimillionaire account holders in commercial banks across the country currently stood at 65,951, as compared to 62,038 in March. According to the data from central bank, 82 more people had accumulated more than Tk50 crore in deposits over this time frame, with 702 depositors in the category six months ago. Former Bangladesh Bank deputy governor Khondoker Ibrahim Khaled said: "Due to the focus moving away from the welfare of the economy, the number multimillionaire depositors have been increasing." "It is certain that Bangladesh is currently a capitalist economy, with money-making policies similar to those followed in the United States (US). In contrast, Europe focuses on the welfare of the economy, putting emphasis on reducing gaps between the rich and the poor,” he added. The former deputy governor further said that this shift away from welfare centric policies to the capitalist US model has coincided with an increase in bank robberies, as the focus on wealth generation by the general public and widening gap between the wealthy and poverty stricken creates discrimination. Echoing Khondoker Ibrahim Khaled’s comments on discrimination as a result of the wage gap, former adviser to the caretaker government AB Mirza Azizul Islam said: "The rise of millionaire depositors shows a particular class of society becoming rich. As a result, discrimination in the society is on the rise.” “People are saving more money in the banks because there is no scope for investment in the country. The saving deposits gradually increase and double-your-money schemes are helping to generate more millionaires,” he said. This article was first published on Bangla Tribune
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