A Bangladeshi school has taken a wonderful, unique initiative in by launching the “two-taka bank.” The bank which was launched in January 2019, has to this day helped 80 school children.
The curious little project was started when a student had to drop-out of school, just because her parents could not afford warm winter clothes.
Pupils of Sharodeshwari Girls High School in Dinajpur came to their fellow school-mate’s rescue, and prompted the school authorities to give their friend a loan. The incident led to the creation of what is now called, the “two-taka bank.” Every month, each of the 710 student of the school deposit minimum two-taka, equivalent of two US cents, to the two-taka bank in which they are equal stakeholders.
Any student in need of aid can apply for an emergency loan. The loan requests are processed by school teachers and upon securing a recommendation from them, a student is granted the loan.
Two-taka is a nominal amount therefore, the students have no difficulty depositing it into their own school bank, even when they belong to underprivileged background. The money from the bank is used to buy basic necessities for school children such as stationary, uniforms, school bags, all things their poverty stricken parents cannot afford for them.
Ever since the initiation of the two-taka bank, student drop-out rate has dropped by 80%. The two-taka bank is providing relief to distressed students and providing them with an opportunity to continue education major financial worries looming over their academic future.
The two-taka bank is a heart-warming example of human goodwill and true ingenuity of creative thinkers, who have managed to find the perfect solution to a pressing problem.
Since its conception in January 2019, the two-taka bank has raised close to $360 and the amount has been put to good use. Now the school administration plans to launch another self-help initiative, a shop where children can sell handicraft. The revenue generated by the sale of crafts will be shared between the two-taka bank and students.