Defaulted loans at non-bank financial institutions (NBFIs) soared 38 percent to a record Tk 23,208.7 crore at the end of 2023, raising concerns over the sector’s deteriorating health.

The Bangladesh Bank has issued its first-ever guideline for the appointment of independent directors at non-bank financial institutions (NBFIs) in order to protect the interest of depositors and general shareholders.

The global financial system looks stable, because central banks have shifted more and more debt onto their books.

Recent figures show alarming rise in defaulted loans