Non-bank Financial Institution
First-ever guideline for non-banks’ independent directors
The minimum age of such directors is 45 years and maximum 75 years
IPDC Finance MD, CEO Mominul Islam resigns
He had joined IPDC in 2006 as head of operations and technology
Non-banks asked to reduce bad loans
They were also asked to submit a work plan
BB now hikes interest rates for NBFIs
Bangladesh Bank yesterday hiked the interest on deposits with non-bank financial institutions (NBFIs) to 9.70 percent and the lending rate to 12.70 percent to help ease the country’s inflationary pressure.
Deposit, lending rates hiked for non-banks
NBFIs can now offer 9.7% for deposits, 12.7% for lending
BB allows Nagad to surrender NBFI licence
Nagad wants to establish a digital bank
Nagad Finance PLC receives new NBFI licence
Nagad will now move to be an MFS under Nagad Finance
Uttara Finance officials yet to face the music for Tk 5,100cr scam
Uttara Finance Ltd is yet to take any major steps against the officials allegedly involved in the Tk 5,100 crore scam unearthed by the Bangladesh Bank although four months have passed since the central bank directed it to bring the culprits to the book.
NBFIs can’t get more than one director from a single firm
A single company can’t have more than one representative director in the board of a non-bank financial institution (NBFI), said the Bangladesh Bank yesterday.
Non-banks’ top brass can remain directors of subsidiaries until Dec
The chairmen of non-bank financial institutions along with the heads of executive, audit and risk management committees who hold directorships of associated subsidiaries or foundations will be able to continue to serve in the latter positions until December this year.
Flexible loan repayment facility for non-banks’ borrowers up to Dec
The borrowers of non-bank financial institutions will enjoy a flexible loan repayment facility up to December this year.
‘Non-bank MDs must have 20 years’ experience’
The Bangladesh Bank today said the interested candidates for the post of managing directors of non-bank financial institutions (NBFIs) have to obtain at least 20 years of working experience at banks or NBFIs.