Banking in Bangladesh
So, imagine you have a really big piggy bank where you save all your money. The bank in Bangladesh is like a big piggy bank where lots of grown-ups save their money.
When someone saves their money in the bank, the bank holds onto it for them and keeps it safe. The bank also gives them a little bit of extra money called interest for keeping their money in the bank.
If someone wants to borrow money, they can go to the bank and ask for a loan. This means that the bank lends them some of the money it has saved, and the person promises to pay it back later with a little bit extra called interest.
Banks also offer other services like giving out credit cards and helping people send money to each other.
In Bangladesh, there are many different types of banks that people can choose to save their money in or borrow money from. Some banks are owned by the government, while others are owned by private companies.
Overall, the banking system in Bangladesh helps people keep their money safe, borrow money when they need it, and make financial transactions with ease.
When someone saves their money in the bank, the bank holds onto it for them and keeps it safe. The bank also gives them a little bit of extra money called interest for keeping their money in the bank.
If someone wants to borrow money, they can go to the bank and ask for a loan. This means that the bank lends them some of the money it has saved, and the person promises to pay it back later with a little bit extra called interest.
Banks also offer other services like giving out credit cards and helping people send money to each other.
In Bangladesh, there are many different types of banks that people can choose to save their money in or borrow money from. Some banks are owned by the government, while others are owned by private companies.
Overall, the banking system in Bangladesh helps people keep their money safe, borrow money when they need it, and make financial transactions with ease.