In a major move to reform and stabilise Bangladesh’s financial sector, the government has decided to liquidate nine non-banking financial institutions (NBFIs), commonly known as leasing companies.
The information was disclosed by Press Secretary Shafiqul Alam at a press briefing held on Wednesday at the Foreign Service Academy in Dhaka.
He said Bangladesh Bank Governor Dr Ahsan H Mansur had informed a high-level meeting about the decision.
The Advisory Council, chaired by Chief Adviser Prof Muhammad Yunus, convened the meeting to review the overall state of the financial sector. Members of the council and other key stakeholders attended the discussion.
According to the central bank governor, several leasing companies have long been contributing to market instability due to inefficiency, irregularities, and capital shortfalls. These institutions have eroded investor confidence and disrupted the financial system’s stability.
“In light of these issues, the government has decided to proceed with the liquidation of nine such institutions,” the press secretary said, quoting the governor’s remarks.
However, no official list of the companies to be liquidated has yet been released. When asked by journalists, the press secretary clarified, “The governor’s statement did not include that list, but Bangladesh Bank will provide details very soon.”
Recently, Bangladesh Bank governor informed the media about the liquidation of nine non-banking financial institutions. The institutions are- Bangladesh Industrial Finance Company Ltd., Aviva Finance, Fareast Finance & Investment Limited, FAS Finance & Investment Limited, GSP Finance Company (Bangladesh) Limited, International Leasing & Financial Services Limited, Peoples Leasing and Finance Services Limited, Premier Leasing & Finance Limited, and Prime Finance & Investment Ltd.
However, it could not be verified whether these institutions are the same ones referred to by the governor in the latest announcement regarding liquidation.
Bd-pratidin English/ ANI
