In the absence of a universal public pension scheme, people in Bangladesh have to rely on private savings for a secure life. They look up to banks and non-bank financial institutions for saving their money to meet future needs. To cater to the savers, banks are increasingly bringing innovations to their savings products to meet the needs of savers at every stage of their life.
In conversation with Zahid Hussain, former Lead Economist, Macroeconomics, Trade & Investment Global Practice, World Bank, Dhaka Office.
Interest income of savers is not taxed everywhere in the world. Vietnam, a Southeast Asian country, does not slap taxes on interest income from bank deposits, life insurance and government bonds.
Each month, Ayesha Amin, a housewife, aims to put Tk 5,000 of the money her husband hands over to her for the running of the house, in her savings account.
