Pakistan has a bigger informal economy than Bangladesh, India.

The Documented currency in circulation (CiC) has increased to over Rs. 8 trillion in Pakistan, representing the growth in the size of the economy and the use of cash to do business.

Meanwhile, total deposits with local banks have risen to Rs. 23 trillion, representing a CiC-to-bank deposit ratio of 34 percent which is higher than Bangladesh and India, and shows that Pakistan has a bigger informal economy than its South Asian counterparts.

As of 2022, Bangladesh has BDT...