Nine non-bank financial institutions (NBFIs) out of a total of 35 are likely to be liquidated in the interest of depositors, making it the first such incident in the financial sector.
The nine NBFIs are: FAS Finance, Bangladesh Industrial Finance Company, Premier Leasing, Fareast Finance, GSP Finance, Prime Finance, Aviva Finance, People’s Leasing and International Leasing.
The NBFIs accounted for as much as 52 percent of the sector’s total defaulted loans of Tk 25,089 crore at the end of last year, according to data from the Bangladesh Bank.
“Those nine NBFIs will be liquidated — the government has given its opinion in principle,” BB Governor Ahsan H…