Bangladesh among eight countries with highest number of adults without bank accounts: World Bank

A significant share of the world’s unbanked adult population is concentrated in just eight countries, with Bangladesh included among them, according to the World Bank’s latest Global Findex Database 2025 report.

The report says around 1.3 billion adults worldwide currently do not have an account with a bank or financial institution. Of them, 53 percent — roughly 650 million people — live in only eight countries. Alongside Bangladesh, the list includes China, India, Pakistan, Indonesia, Egypt, Nigeria and Mexico.

While nearly all adults in high-income countries have bank accounts, the number of unbanked people remains high in low- and middle-income countries. In 2011, almost half of the world’s adult population had no financial account. That figure declined to 26 percent in 2021 and further to 21 percent in 2024. Despite this progress, a large population still remains outside the formal financial system.

World Bank analysis shows that the unbanked population largely consists of vulnerable and marginalised groups. Of the 1.3 billion adults without accounts, more than 700 million, or 55 percent, are women. About 670 million, or 52 percent, belong to the poorest 40 percent by income. Around 790 million people, or 62 percent, have an education level of primary or below, while 690 million, or 54 percent, are unemployed or outside the workforce.

By age group, those without bank accounts include 380 million aged 15–24, accounting for 29 percent, 590 million aged 25–54, or 46 percent, and 320 million aged 55 or above, or 25 percent.

Experts say that despite growing discussions on digital transformation and economic growth, a large section of the global population remains excluded from formal financial systems. In countries like Bangladesh, the number is alarmingly high, highlighting ongoing challenges in financial inclusion.

The World Bank identifies six main barriers to owning a bank account: lack of sufficient money, high service fees, another family member already having an account, distance from financial institutions, lack of trust in institutions, and insufficient documentation.

Among these, lack of money is cited as the most significant factor. The report notes that in Egypt, 90 percent of people without bank accounts said they did not have enough funds to open or maintain one. This has increased demand for low-cost accounts and mobile-based financial services.

The analysis also points to limited financial capability and confidence as major obstacles, noting that in many South Asian countries, people with accounts often depend on others to operate them.

While the expansion of mobile phones and internet access could play a crucial role in boosting financial inclusion, high smartphone and data costs in Bangladesh remain a significant barrier, the report adds.