Written by The Banking Post
Tears, frustration and uncertainty marked a press conference in Dhaka as depositors of six troubled non-bank financial institutions (NBFIs) demanded the return of their savings, many of which have been stuck for years.
Among them was the family of AKM Ansar Uddin, a retired official who had deposited Tk 16 lakh in People’s Leasing, hoping to secure his children’s future. When the deposit matured, neither the principal nor interest was returned. As his health worsened, he could not access the funds for treatment and passed away last November, leaving his family in financial distress.
His wife recounted how they struggled to arrange their daughters’ weddings without ceremony. “We are now uncertain how to survive with my children and cannot even ask others for help. Now I feel completely lost,” she said.
The press conference, organised by a depositors’ platform representing six liquidated NBFIs, highlighted similar stories of hardship. The affected institutions include FAS Finance, Premier Leasing, Fareast Finance, Aviva Finance, People’s Leasing and International Leasing.
Many depositors said their savings—often meant for medical treatment or retirement—remain inaccessible. One depositor said her family invested funds for healthcare in Aviva Finance but has been unable to withdraw any money since 2024. “Even urgent medical requests were ignored, leaving us uncertain about our future,” she said.
Speakers said the crisis has affected around 2,000 families, with many yet to recover either their principal or returns. Some depositors reportedly died without proper treatment after failing to access their funds.
A representative of a charitable trust said funds invested in several of these institutions were used to support education, healthcare and welfare programmes. With the money now stuck, those activities have been severely disrupted, putting support for vulnerable communities at risk.
Experts and depositors blamed years of mismanagement, weak governance and rising non-performing loans for the collapse of several NBFIs. They also pointed to delayed regulatory action by Bangladesh Bank as a key factor that deepened the crisis.
In January, the central bank moved to liquidate six financially weak NBFIs as part of ongoing reforms. However, depositors say recovery efforts have been slow and unclear.
“We firmly state that a depositor is a depositor whether in a bank or an NBFI. Equal protection, fair compensation, and timely repayment must be ensured,” said a statement read at the event.
The group demanded a clear and time-bound roadmap to return deposits within three to six months, along with stronger legal action against those responsible for financial irregularities. They also called for deposit protection measures in the NBFI sector similar to those in banking.
“We call upon the government and the central bank to take urgent steps to ensure justice for affected depositors,” the statement said, warning that protests would continue until their money is returned.
