Depositors of 6 troubled NBFIs seek urgent BB action for refunds

An alliance representing more than 12,000 depositors of six distressed non-bank financial institutions (NBFIs) has urged Bangladesh Bank (BB) to take immediate steps to facilitate the return of their long-stuck funds.

In a memorandum submitted to the BB governor at the central bank in Dhaka, the platform titled "Alliance of 6 NBFIs Depositors for Recovery" said depositors have been facing acute financial hardship, mental distress, and a humanitarian crisis as their savings have remained locked up for nearly seven years.

"Many depositors are being deprived of treatment for critical illnesses such as cancer, kidney disease, and heart conditions due to a lack of funds," the memorandum said, adding that several have already died without receiving necessary medical care.

As the regulator of banks and NBFIs, the central bank bears the highest responsibility to safeguard public deposits, the alliance said, calling for urgent intervention to resolve the crisis.

The alliance outlined three key demands, including an immediate announcement of a clear, realistic, and actionable roadmap in line with the previously declared July 2026 deadline for refunding depositors' money.

The other demands are the introduction of an effective mechanism to prioritise repayments to individual depositors, and the arrangement of a meeting between the governor and three to four representatives of the depositors to present their demands formally.

The depositors expressed hope that the central bank would take swift, effective, and humane measures to address the crisis and ensure the protection of public savings.