Microfinance refers to the provision of financial services to low-income individuals or those who lack access to typical banking services. These services often include small loans (microloans), savings accounts, insurance, and payment systems. The primary goal of microfinance is to empower economically disadvantaged populations by providing them with the necessary financial tools to become self-sufficient. This approach enables individuals to start or expand small businesses, manage risks, and improve their overall quality of life.

Retail banking, also known as consumer banking or personal banking, refers to the provision of financial services by banks to individual consumers and small businesses. These services include offering savings and checking accounts, mortgages, personal loans, credit cards, and certificates of deposit (CDs). Retail banking enables individuals to manage their finances, access credit, and securely deposit their funds.

 The primary function of a central bank is to oversee and implement a country's monetary policy and regulate its banking system. This includes managing interest rates, controlling the money supply, and ensuring financial stability. Central banks, such as the Bangladesh Bank, are responsible for formulating and implementing monetary and credit policies to maintain price stability and support economic growth. They also supervise financial institutions to ensure a robust and secure financial system.

 Investment banks focus on underwriting and issuing securities.

Merchant banks typically focus on providing advice and financing for mergers and acquisitions.

A nonprofit cooperative that provides financial services to its members 

A bank that deals primarily with businesses and corporate clients

The primary function of a bank is to facilitate financial transactions by accepting deposits from individuals and businesses and using those deposits to provide loans. This process helps circulate money in the economy, support business growth, and enable individuals to make significant purchases like homes and cars. Banks also play a crucial role in maintaining liquidity and financial stability in the economy.

A financial institution that accepts deposits and provides loans