Six non-bank financial institutions (NBFIs) out of 35 are set to be liquidated finally due to poor financial health, after the Bangladesh Bank (BB) board approved the move today.
The six NBFIs are FAS Finance, Premier Leasing, Fareast Finance, Aviva Finance, People’s Leasing, and International Leasing.
Initially, the regulator had planned to liquidate nine NBFIs. However, after two days of hearings, three companies — Prime Finance, GSP Finance, and Bangladesh Industrial Finance Company (BIFC) — were given three to six months to improve their finances.
Arief Hossain Khan, executive director and spokesperson of Bangladesh Bank, confirmed the development to The Daily Star.
The decision was made at a BB board meeting chaired by Governor…