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Population
Bangladesh has a population of around 170 million people (as of 2023), making it one of the most densely populated countries in the world. The majority of the population lives in rural areas, but cities, especially the capital Dhaka, are growing rapidly.
Capital
The capital of Bangladesh is Dhaka, which is not only the economic and political center of the country but also one of the fastest-growing cities in the world. Dhaka is known for its dynamic urban life but also faces significant challenges in infrastructure and traffic management.
Economic Strength
Bangladesh has a rapidly growing economy, driven primarily by the textile and garment industry, making it the second-largest exporter of clothing in the world. Other important sectors include agriculture, shipbuilding, pharmaceuticals, and increasingly information technology. Despite economic growth, Bangladesh continues to struggle with poverty and inequality, though the poverty rate has significantly decreased in recent decades.
Culture
The culture of Bangladesh is deeply influenced by Bengali traditions. Literature, especially the works of Rabindranath Tagore, along with music and theater, play important roles in cultural life. Festivals such as Pohela Boishakh (Bengali New Year) and Independence Day celebrations are major events. Bangladesh is predominantly Muslim, but there is a significant Hindu minority that celebrates its own festivals and traditions.
Currency
The official currency of Bangladesh is the Bangladeshi Taka (BDT). One Taka is divided into 100 paisa.
Health Insurance and Social Security System
Bangladesh does not have a comprehensive national health insurance system. Workers in the formal economy often have access to private health insurance through their employers. The social security system is rudimentary, and many workers rely on informal networks or family support for health and financial assistance.
Employer Costs
Employers in Bangladesh generally cover the costs of social benefits such as health insurance and, in some cases, transportation or accommodation, depending on the industry. In the formal sector, employers are required to contribute to retirement funds and accident insurance, though these systems are often based on voluntary agreements and are not mandatory.
Salary and Bonuses
Salaries in Bangladesh are relatively low compared to international standards, particularly in the garment industry, where the minimum wage is often considered insufficient. However, skilled professionals in certain industries receive competitive wages. Bonuses are common, especially around religious holidays like Eid.
Payroll
In the formal economy, employers must issue monthly payslips detailing base salary, allowances, bonuses, and deductions for taxes and social security contributions. Many workers in the informal sector, however, do not receive formal payslips.
Public Holidays
Bangladesh observes several public holidays, including:
- International Workers’ Day (May 1)
- Independence Day (March 26)
- Victory Day (December 16)
- Eid al-Fitr and Eid al-Adha (Islamic holidays)
- Durga Puja (Hindu festival)
The exact dates of religious holidays vary according to the lunar calendar.
Working Hours
Standard working hours in Bangladesh are 48 hours per week, with a typical workday of 8 hours and 6 days per week. In many industries, especially the garment sector, working hours can be longer, and overtime is common.
Vacation
Employees in Bangladesh are generally entitled to 10 to 20 days of paid annual leave, depending on the industry and length of employment. Paid leave is also granted on public holidays.
Sick Leave
In the event of illness, employees are entitled to paid sick leave, typically for a limited number of days per year. The specific regulations vary greatly by industry and individual employment contracts. There is no comprehensive state system for sickness or disability benefits.
Termination/Severance
In Bangladesh, employment can be terminated with a notice period, typically 30 days. Upon dismissal, employees are generally entitled to severance pay, which varies depending on the length of service. The statutory severance pay is often half to one month’s salary per year of service, particularly in the formal sector.