Balancing compliance and financial inclusion

FE Team | Published: June 13, 2026 20:32:00

Reports suggest that the national budget may introduce Taxpayer Identification Number (TIN) registration as a mandatory requirement for opening bank accounts. While the proposal may be intended to strengthen tax compliance and broaden the tax net, its potential implications for financial inclusion deserve careful consideration.
Bangladesh has made significant progress in bringing more people into the formal financial system over the past decade. Expanding access to banking services remains essential for achieving greater financial inclusion, promoting digital transactions, mobilising savings, and advancing the country's long-term vision of a cashless economy. Introducing additional barriers to accessing basic banking services could unintentionally slow this progress and discourage participation among segments of the population that remain outside the formal financial system.
A large section of the population-including students, low-income earners, agricultural workers, small traders, and individuals employed in the informal sector-may not have an immediate need for a TIN. Requiring every prospective account holder to obtain one before opening a bank account could create an administrative burden and discourage many from entering the formal banking system. Such a measure could run counter to the broader objective of encouraging savings, digital payments, and greater financial participation.
A more balanced approach may therefore be preferable. Instead of imposing a universal requirement, policymakers could consider making TIN registration mandatory only for specific categories of customers based on transaction volume, income level, account type, or risk profile. For example, higher-value accounts and customers engaged in substantial financial transactions could be brought under stricter compliance requirements, while basic banking services remain easily accessible to the general public.
Financial inclusion and tax compliance are both important national goals. The challenge lies in designing policies that advance one objective without undermining the other.
Md. Zakaria
FAVP & Credit Analyst
CRM-CMSME Division
NCC Bank PLC, Head Office