Depositors of 6 distressed NBFIs seek full repayment by December

Depositors of six distressed non-bank financial institutions (NBFIs) have demanded a legally binding government order guaranteeing full repayment of depositors’ funds, including accrued interest, by 31 December 2026, alleging that affected customers have received no formal communication from Bangladesh Bank or the Ministry of Finance.

In a statement issued today (23 May), the Alliance for Six NBFI Depositors’ Recovery Committee said depositors were still relying on media reports for updates regarding possible repayment plans and liquidation measures.

The alliance – representing around 12,000 depositors of FAS Finance & Investment Limited, Premier Leasing, Fareast Finance, Aviva Finance, People’s Leasing and Financial Services, and International Leasing and Financial Services – said it submitted a memorandum to Bangladesh Bank following a silent protest on 6 May, but claimed no official response had been received.

“We are only hearing words filtered through the press. No ordinance has been issued. No order has been communicated to us,” said Convenor Zafar Ullah Khan.

The group argued that depositors had placed their savings in institutions licensed and monitored by Bangladesh Bank, making the regulator responsible for ensuring full repayment.

The alliance’s first demand is for a formal written government order guaranteeing repayment of all individual depositors by the end of this year.

It also rejected any repayment framework limited to returning principal amounts without interest, arguing that depositors had suffered significant financial losses due to inflation and years of delayed access to their savings.

According to the alliance, an individual who deposited Tk10 lakh in 2019 has effectively lost between Tk12.38 lakh and Tk13.78 lakh in interest and inflation-adjusted value.

The alliance further demanded criminal prosecution of those responsible for the collapse of the six NBFIs, including directors, executives, and defaulting borrowers, alongside recovery of assets through legal means.

The alliance said individual deposits across the six institutions total around Tk3,525 crore.