No explanation is sufficient in response to the queries about the irregularities, said SM Shamsul Arefin, managing director of Uttara Finance, in the cover letter to the file sent on January 5. The Bangladesh Bank is now examining their reply,” said Md. Serajul Islam, spokesperson of the central bank, yesterday. And shares of seven listed NBFIs -- Bangladesh Industrial Finance, Fareast Finance, FAS Finance, First Finance, International Leasing, Premier Leasing, Prime Finance and Union Capital -- were trading at less than their face value of Tk 10. “The Bangladesh Bank is the primary regulatory body of the sector.

Source: Dhaka Tribune January 11, 2021 18:45 UTC