Dhaka, Nov. 12 -- The Investment Corporation of Bangladesh (ICB) is facing a heavy loss of more than Tk 12.05 billion as it has been unable to recover any of the money invested in fixed deposit receipts (FDRs) with 12 troubled financial institutions.

Of the institutions, 10 are non-bank financial institutions (NBFIs) and two others are private banks.

A majority of these NBFIs have already come under a process of liquidation by the central bank, while the two banks have been in financial distress.

It will be another blow for the state-run investment bank if the money is lost to the failed financial institutions, at a time when it has already fallen into the red due to unyielding investments.

Bangladesh Bank (BB) Governor Ahsan H. Mansu...