Answered: Discuss the Banking system of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Discuss the Banking system of Bangladesh.

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Step 1

Bangladesh is a developing country and a very large proportion of the population is below the poverty line. This can give an idea about the banking system of the country.

Step 2

Private Banks are trying to put up in the country and also trying to develop but their progress is an obstacle due to the political instances of the Central Bank of Bangladesh.
The banking system is corrupt and fraudulent practices are common in their banking system
In Bangladesh, there are two types of banks based on religion i.e Islamic and non-Islamic banks.
Recent developments have been seen that their banking system such as the development of Mobile banking systems such as M-Cash, Nagad, Ok Mobile Banking etc,
Also, there are bill paying services and mobile pay services.
On the authority basis, Banks in Bangladesh can be classified as scheduled, NBFCs, specialized financial institutions

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