16 non-banks weighed down by high NPLs 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.
Many scam-hit non-bank financial institutions (NBFIs), including International Leasing, People's Leasing, and Bangladesh Industrial Finance Company Limited, have long been struggling with a severe fund crisis and sky-high non-performing loans. In contrast, around a dozen well-governed firms including the IDLC, LankaBangla, the IPDC, and Bangladesh Finance were posting decent
Five listed companies that have an accumulated loss of at least Tk 500 crore each saw their share price rise sharply in the past three months, whereas the stocks of the top profit-makers fell.
M Moneruzzaman | Published: 23:41, Feb 23,2021
The High Court on Tuesday observed that officers of Bangladesh Bank, who were responsible for overseeing the activities of non-banking financial institutions, were beneficiaries of financial scams carried by scammers at different non-banking financial institutions by illegally facilitating the top brass of the companies.
The company bench of Justice Muhammad Khurshid Alam Sarkar also called Bangladesh Bank’s executive director Shah Alam a ‘thief and a robber’.
Shah Alam was recently discharged of his duties at the central bank’s Department of Financial Institutions and Markets and the Department of Banking Inspection-2 for his alleged connection with fugitive Prashanta Kumar Halder, former director of International Leasing and Financial Services.