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Bangladesh Bank has instructed non-bank financial institutions (NBFIs) to reduce the amount of non-performing loans (NPLs) they have to resolve the sector’s image crisis.
Fourteen non-bank financial institutions (NBFIs) out of a total of 35 were in the red zone last year as per the stress test report of the central bank.
Prime Bank Ltd and the Industrial and Infrastructure Development Finance Company Ltd (IIDFC) recently signed an agreement on digital cash management solutions.
Non-bank financial institutions in Bangladesh lost 48,637 deposit accounts in the three months to December as savers moved away from NBFIs owing to the imposition of the cap on the deposit rate and the erosion of confidence in the wake of allegations of irregularities at some banks.