Financial system in Bangladesh
The formal sector includes all regulated institutions like banks, non-bank financial institutions (FIs), insurance companies, capital market Intermediaries like brokerage houses, merchant banks etc.The semi formal sector includes those institutions which are regulated otherwise but do not fall under the jurisdiction of Central Bank, Insurance Authority, Securities and Exchange Commission or any other enacted financial regulator.This sector is mainly represented by Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc., Non-governmental organizations (NGOs) and discrete government programs.The informal sector includes private intermediaries which are completely unregulated.They are: Bangladesh bank(Central Bank of Bangladesh): Bangladesh securities and exchange commission: Insurance Development & Regulatory Authority(IDRA) Microcredit Regulatory Authority(MRA) The semi formal sector comprises some Specialized Financial Institutions: The informal sector includes private intermediaries which are completely unregulated.