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Non-bank financial institutions (NBFIs), known as financial institutions (FIs), are those types of financial institutions that are regulated under the Financial Institution Act, of 1993 and controlled by Bangladesh Bank. Now, 34 FIs operate in Bangladesh while the maiden one was established in 1981.
regulate 61 scheduled & 5 non-scheduled banks, 34 Non-Banking Financial Institutions (NBFIs) Bangladesh securities and exchange commission: Stock Exchanges, Stock Dealers & Brokers, Merchants Banks, Asset Management Company (AMCs), Credit Rating Agencies etc. Insurance Development & Regulatory Authority(IDRA) 18 Life and 44 Non-Life Insurance ...
On 5 July 2004, Standard Bank Limited 150 million taka loan to International Leasing and Financial Services Limited. [9] In 2007, Dr Salehuddin Ahmed, Governor of Bangladesh Bank ordered the monitoring of nine non-banking financial institutions including International Leasing and Financial Services Limited. [10]
IDLC was established in 1985 by the initiation of IFC of the World Bank. [9] The company was formed via collaboration of International Finance Corporation, German Investment and Development Company, Korea Development Financing Corporation, Aga Khan Fund for Economic Development, Kookmin Bank, IPDC Finance Limited of Bangladesh and Sadharan Bima Corporation.
Bangladesh Finance and Investment Company Limited, also known as BD Finance or Bangladesh Finance Limited, is a non-bank financial institution in Bangladesh. [1] [2] Manwar Hossain is the chairman Bangladesh Finance and Investment Company Limited and Md Kyser Hamid is the CEO and managing director. [3]
Bangladesh Industrial Finance Company Limited is a major non-bank financial institution in Bangladesh. In 2021 the company got into financial trouble due to embezzlement by its former chairman Abdul Mannan. [2] The company had given large loans that were not performing to Sunman Group subsidiaries, owned by Abdul Mannan. [3]
People's Leasing and Financial Services Limited is a major non-bank financial institution in Bangladesh providing leasing and investment services. In 2020, Bangladeshi-Canadian businessman Proshanta Kumar Halder, known as the Sultan of Swindle, scammed 35 billion taka from the company. [2] [3] [4] [5]
The takeover of Islami Bank started in 2013 and was supported by the Awami League government as it was linked with the Bangladesh Jamaat-e-Islami. [14] According to New Age, S. Alam Group had taken 300 billion taka loans from Islami Bank Bangladesh Ltd which was denied by the bank.