A PROJECT REPORT ON Financial Inclusions in Bangladesh
HAZARI, SHAOWN SINGH
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Financially inclusive, people and businesses in rural and urban areas can use basic and reasonable financial products and services to encounter their requirements, and provide these products and services in a responsible and sustainable manner. Financial inclusion denotes to equal entree to financial services. Every country in the world is trying to include all its citizens in financial inclusion, and Bangladesh, as an emerging nation, is trying to include all funded people. Several studies found that in Bangladesh only 17.6% -38.6% of adults are currently undertaking formal financial services. The reason behind this is that Bangladesh's banks and other financial institutions only pursue urban profits, so rural and less developed areas are always ignored when these areas consist of the majority of the population of Bangladesh. Only then will people in the region be subject to a formal financial review to ensure that Bangladesh is financially inclusive. The project report is prepared on Bangladesh's access to financial institutions and explains how people access it through banks, mobile financial services, insurance companies, microfinance institutions, bank agents, cooperatives, as well as ATMs and POS (points of sale). In order to provide more people with financial access to Bangladesh, various schemes have been proposed, such as researching innovative financial products and services and improving financial education for rural people by promoting government programs, financial awareness, development of appropriate infrastructure, reduction of corruption in rural areas, etc. Bangladesh can improve the economic situation of the people of Bangladesh and meet specific needs without harming the environment. With all this in mind, the study describes the overview of the financial inclusion of Bangladesh, seven ways to get financial access and recommendations for improving financial inclusion.
- Finance