Types of Financial Institutions in Bangladesh

Types of Financial Insitutions/Financial Intermediaries
There are differsnt types of financial institutions/financial intermediaries operating in financial markets. Those can be classified primarily into two broad categories : Depository Financial Institutions and Non Depository Financial Institutions.

A. Depository Financial Institutions/Financial Intermediaries

The financial institutions which offer different depository accounts to the surplus units to collect funds in the form of deposits.

1. Commercial Banks
Commercil banks collect funds from the savers by offering wide variety of deposit accounts and mainly provide personal and commercial loans to different individuals, corporations and governments. There are some commercial banks in Bangladesh. They are :-
• Uttara Bank Limited
• Dhaka Bank Limited
• United Commercial Bank Limited
• Mutual Trust Bank Limited
• BRAC Bank Limited; etc.

2. Savings and Loan Associations/Thrift Institutions
Savings and Loans Associations collect funds by offering different types of depository accounts to the small savers.

3. Credit Unions
Credit Unions are depository institutions which are owned by heir members (depositors).Credit union members share a common bond that means they are from same occupation or same religious group or same community etc

B. Non Depository Financial Institutions

The financial institutions which collect funds from sources other than deposits.

1. Insurance Companies
Insurance companies offer different insurance polices to the people like life insurance, health insurance, accident insurance etc. Against providing those insurance protecctions, they collect premiums from the insurance policy holders.

Insurance companies in Bangladesh provide following services:
 Life insurance,
 General Insurance,
 Reinsurance,
 Micro-insurance,
 Takaful or Islami insurance.

2. Finance Companies
Finance companies obtain funds by issuing their own securities and

References: • http://en.wikipedia.org/wiki/List_of_banks_in_Bangladesh • http://en.wikipedia.org/wiki/List_of_companies_of_Bangladesh • http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDVfMDVfMTNfMV8yN18xNjgzODk= • http://www.bangladesh-bank.org/