A serious lack of governance is the key challenge of non-banking financial institutions (NBFIs) in the country, speakers said at a programme on Wednesday, urging authorities concerned to bring the rule violators to justice.
They also identified liquidity shortage, high rate of default loans and uneven competition with banks as other main challenges of the NBFIs.
They pointed out the setbacks at a discussion titled “Potentials and Challenges of Financial Institutions for Economic Development” held on the sidelines of a NBFI Fair, jointly organised by Bangladesh Leasing and Finance Companies Association (BLFCA) and the daily Banik Barta in the city.
State Minister for Planning Dr Shamsul Alam addressed the programme as the chief guest, while the Bangladesh Bank (BB) Deputy Governor Ahmed Jamal and the Bangladesh Securities and Exchange Commission (BSEC) Commissioner Dr Sheikh Shamsuddin Ahmed spoke as the special guests.
Moderated by Banik Barta Editor Dewan Hanif Mahmud, two former governors of the central bank Dr Salehuddin Ahmed and Dr Atiur Rahman delivered recorded speeches.
The speakers viewed that bringing the rule violators to justice would gradually decrease financial anomalies in different financial institutions, including NBFIs, and help gain trust of depositors and other clients.
Due to serious irregularities in several FIs, the entire NBFI sector has fallen in…
