Over half the money in financial institutions belongs to millionaires

According to the Bangladesh Bank report, over 55% of the deposits in the country’s financial institutions, amounting to Tk 248.76 billion, belong to just 1.25% of the depositors who are millionaires. The remaining 98.75% of depositors hold only 44.5% of the total deposits. This highlights the extreme income inequality in Bangladesh, where the wealthy 10% hold 41% of the nation’s total income, while the poorest 10% have only 1.1%. Experts recommend imposing higher taxes on the wealthy to address this growing disparity and promote inclusive economic development.(photo/prothomalo)