Nine non-banks set for liquidation owe Tk 15,370cr to savers

Nine non-bank financial institutions (NBFIs) out of a total of 35 are likely to be liquidated in the interest of depositors, making it the first such incident in the financial sector.

Bangladesh Industrial Finance Company Ltd (BIFC), a non-bank financial institution or NBFI, faces liquidation as it has failed to pay back loans and deposits of Tk 640 crore to 19 banks and seven NBFIs.