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Research Paper | Economics & Management | Bangladesh | Volume 13 Issue 10, October 2024 | Popularity: 5.6 / 10

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Felicitous Management of Financial and Insurance Institutions Causes Better Living Standard: A Reference of Bangladesh

Helal Uddin Ahmed, Sarder Nurul Amin

Abstract: It is agreed by different corners that significant development of the society depends on the services extended by the banking institutions and insurance institutions. Every development program required resources which may find available in the banking and insurance institutions along with the safety nets of the investors. Banks collect deposit and extend credits to the investors on different investment programs. The market coverage of different packages of services depends on how much the respective institutions inclined to outreach the deserving people. To visualize how things are happening in Bangladesh different data sets are collected and analysis tools such as: building descriptive statistics, estimating relationship by estimating bi - variate correlation coefficients between different variables, building multiple regression models and testing the significance levels in every case. The immediate objectives of the analysis are to point out whether the services from banking institutions and insurance institutions can bring about an effect on better living standard. In this regard the relationships of the income of the institutions with GNI were checked and found very significant. On the other hand, the study checked the relationship of income of the institutions with prospective predictors; the analysis has shown that the changes on predictors jointly or independently as well as significantly influenced the income. The study also attempted to identify the prospective group of predictors and found that QIIP (Quantum Index of Industrial Product), per capita consumption of electricity, number of means of transportation registered in the sample period, amount of available cultivable land, and total credit extended to the society by different types of institutions during the sample period. The estimated results are found very significant that the befitting packages of services can help both types of institutions for contributing to the society for building better living standard increasing their level of market coverage.

Keywords: Banking services, living standard, Market coverage, and Measuring predictors' influences

Edition: Volume 13 Issue 10, October 2024

Pages: 379 - 383

DOI: https://www.doi.org/10.21275/SR24923204832

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