Deposits totaling Tk 1,600 crore from four state-run commercial banks—Sonali, Rupali, Agrani, and Janata—are stuck in weak non-bank financial institutions (NBFIs) due to persistent liquidity crises and failure to repay. Of this, Tk 1,392 crore is in fixed deposits, with the remainder extended as loans through the call money market. The NBFIs involved include Bangladesh Industrial Finance Company, FAS Finance, First Finance, International Leasing & Financial Services Ltd, People’s Leasing & Financial Services Limited, Premier Leasing, Prime Finance, Fareast Finance, and Union Capital.
Analysts question the banks’ due diligence in placing funds and suspect political pressure or improper analysis. Troubled banks like Padma Bank attracted deposits, and despite claims of lucrative interest rates, doubts persist about the investment decisions. Concerns grow as the NBFIs face liquidity issues, impacting not only banks but also general investors.
The broader NBFI sector faces challenges with large-scale irregularities and scams revealed in a 2020 central bank inspection. Despite challenges, state-run banks continue to grapple with stuck funds in struggling financial institutions.
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