The Alliance of 6 NBFIs Depositors for Recovery Committee on Saturday demanded that the government issue a legally binding notification guaranteeing the full return of their principal amounts along with accrued profits by December 31, 2026.
The alliance, which represents 12,000 individual depositors across six ailing Non-Bank Financial Institutions (NBFIs), explicitly rejected informal or conditional government assurances reported in the media.
The affected institutions include FAS Finance & Investment Limited, Premier Leasing, Fareast Finance, Aviva Finance, People's Leasing and Financial Services, and International Leasing and Financial Services. Together, these 12,000 individual depositors have an aggregate of approximately Tk 3,525 crore trapped in these institutions. Among them, the depositors of People's Leasing have had their funds frozen since July 2019.
In a press release issued today, the alliance expressed frustration over the lack of direct communication from Bangladesh Bank or the Ministry of Finance, despite a silent protest and the formal submission of a memorandum on May 6.
"We are only hearing rumors through the media. No ordinance has been issued, and no official order has reached us," said Jafar Ullah Khan, Convenor of the committee. "Many of our members have been waiting since July 2019. We will not accept any 'under process' rhetoric as a substitute for a legal commitment. Issue the notification, set the deadline, and give it to us in writing."
The demand includes- Legally Binding Notification & Fixed Timeline: The group demands an official, published, and legally enforceable notification detailing a complete payout by December 31, 2026. They stated that conditional media reports suggesting funds might be released in July or that liquidation processes are being drawn up are not acceptable substitutes for a legal mandate.
Payment of Fully Accrued Profits: The depositors strongly rejected media hints suggesting that only the principal amount might be returned without any profits. The alliance argued that based on contractual agreement rates and current inflation data from the Bangladesh Bureau of Statistics (BBS), a depositor who saved Tk 10 lakh in 2019 has suffered a combined loss of Tk 12.38 lakh to Tk 13.78 lakh. Maintaining the purchasing power of Tk 10 lakh from 2019 requires roughly Tk 16.78 lakh today.
Absolute Accountability for Plunderers: The committee insists that even if the government pays back the depositors, the personal liabilities of the directors, executives, and default borrowers who looted these institutions through shell companies, fake loans, and fraudulent transactions must not be minimized. They demanded criminal prosecution without delay, asset recovery under the full extent of the law, and the publication of a registry naming all liable individuals.
Kawsar Hossain Chowdhury (KC), co-founder and coordinator of the alliance, noted that members deposited their life savings relying on the regulatory approval and validation stamp of the central bank. "The collapse of these NBFIs is not personal bad luck; it is a regulatory failure," the alliance stated, adding that Bangladesh Bank must bearthe responsibility for returning the full amount with profits.
The alliance, which has already organized six peaceful silent protests, declared that its legal and transparent movement will continue until a written order is issued and every depositor receives their money in full.