FAS Finance s ex-MD barred from leaving Bangladesh thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.
Bar on ex-MD of FAS Finance from leaving country thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.
Seven non-bank financial institutions (NBFIs) are now finding it difficult to recover Tk 2,050 crore they had lent to their subsidiaries and associates in breach of rules.
Twenty-five banks are suffering from a collective default loan of Tk 974.4 crore after several non-bank financial institutions (NBFIs) failed to pay back funds despite maturity, in another sign of feeble state in the financial industry.
The embargo on Pritish s travelling abroad could be extended, said a central bank official, seeking anonymity.
Prashanta Kumar Halder alias PK Halder and his associates swindled Tk 1,300 crore from FAS Finance in the name of several companies that exist on paper only, according to a recent investigation carried by the Anti-Corruption Commission.
The Bangladesh Securities and Exchange Commission (BSEC) reconstituted FAS Finance board on May 31.
The regulatory decision to resolve the NBFI s board was taken due to its failure to comply with the rules that says at least 30 percent shares must be held by sponsor-directors.
The BSEC nominated five independent directors for FAS Finance.