Every time the government tried to fix the price of a good or service, it unwittingly ended up offering a financial bonanza to the market syndicates. From potato to onion, from LPG to transport fare, from fertiliser to rawhide, from sugar to edible oil, there is rarely any success to speak of.
The number of banks, insurance companies, brokerage firms, and merchant banks is much higher in Bangladesh than in many other countries at a similar level of development or having a similar size of population and economy.
Jewellery industry still depends on informal sources thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.
Claim settlement in the insurance sector in Bangladesh stood at 67 percent in 2022, highlighting bad investments and non-compliance that prevented insurers from attaining a higher ratio, data from the regulator showed.
The government awarded licences to set up new nine banks in 2013 despite criticism from analysts and economists and initial reservations from the central bank since the number of lenders was already high in Bangladesh and approvals were largely given on political consideration.