Depositors of six troubled non-bank financial institutions (NBFIs) on Wednesday demanded a clear roadmap to recover their funds within three to six months and called for visible legal action against those responsible for financial irregularities and corruption.
The demands were placed at a press conference at the Zahur Hossain Chowdhury auditorium of the National Press Club under the banner of Alliance of Six NBFIs Depositors Recovery Committee.
The affected institutions are First Finance, Premier Leasing, Fareast Finance, Aviva Finance, Peoples Leasing and International Leasing, with more than 2,000 depositors impacted.
Among those present were Nazrul singer Nashid Kamal and victims including Munira Khan, Shaila Banu, Aktari Begum and Jalal Uddin.
Reading a written statement, Nashid Kamal said depositors have faced financial distress for seven years due to mismanagement, weak governance and ineffective regulatory oversight.
She said that while reforms and depositor protection measures have been introduced in the banking sector, similar steps are yet to be taken for NBFIs.
The group demanded immediate recovery measures, a regulatory framework comparable to banks, full transparency in liquidation and fund recovery, and urgent steps to restore confidence and ensure justice.
The development follows Bangladesh Bank’s move in January to initiate closure or liquidation of nine NBFIs, later narrowing the list by excluding three institutions, leaving the six firms under focus. Individual depositors have been assured of refund to be subsidised by the state.
Munira Khan said she and her son have had deposits stuck in Peoples Leasing since 2020.
“Nearly 2,000 families have their savings trapped in these institutions. We trusted the country’s laws when we placed our deposits,” she said.
She said her sister, who is battling cancer, has been unable to continue treatment despite having savings locked in an NBFI after selling her flat earlier for medical expenses.
“She now cannot afford further treatment and is struggling to access her own money,” she added.
Aktari Begum said her husband invested nearly Tk16 lakh from his pension but could not recover the funds and avoided proper treatment to prevent debt.
“He died five months ago, and now I am uncertain how to support my children,” she said. Depositors said thousands of families depend on these savings for healthcare, education and daily expenses, warning that delays in recovery are worsening their hardship.
