The Role of Financial Institutions in the Economic Development of Bangladesh

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Financial Institution In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries. Most financial institutions are highly regulated by government. Broadly speaking, there are three major types of financial institutions: 1. Deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies 2. Insurance companies and pension funds; and 3. Brokers, underwriters and investment funds. Function Financial institutions provide service as…show more content…
In other words, that development NGOs too would become redundant. Since 1999 I have had opportunity to return and observe that many of the old organizations remain, others have grown astronomically, and there are now many thousands more NGOs engaged in development programmes in Bangladesh. When BRAC [Bangladesh Rural Development Centre] was started in 1972 we thought that it would probably be needed for two to three years, by which time the national government would consolidate and take control of the situation and the people would start benefiting from independence. But as time passed, such a contention appeared to be premature. After 16 years, we felt that we have not yet outlived our utility and need to do more and more'. This essay is the initial stage of reflective research by a development practitioner into the key factors enabling ascendancy of NGOs and some of the key issues for policy and NGO partners. . NGOs in the new nation of Bangladesh The suffering of the Bengali people due to a combination the cyclone of 1970 and the political turmoil that lead to the emergence of Bangladesh as an independent nation following liberation war from March to December 1971 prompted a massive response in multilateral, bilateral and non-government aid. In
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