In Bangladesh, 94% of the population lacks bank accounts due to complexities in banking services and low interest in financial institutions. Over half of the population avoids financial transactions altogether. However, mobile banking has shown significant growth, with 20.80% of people using services like bKash, Nagad, and Rocket. Despite Bangladesh having over 61 banks and nearly 11,000 branches, only 5% of the population holds bank accounts. This disparity highlights a shift towards mobile banking, which offers easier access and convenience compared to traditional banking services. Financial inclusion efforts include microfinance institutions and non-banking entities, covering 47.43% of the population, indicating broader financial participation beyond conventional banking.
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