Dhaka, Dec. 2 -- The nine non-bank financial institutions (NBFIs) now heading for liquidation under a Bangladesh Bank initiative were in good financial health even a decade ago.

Their condition has gradually eroded over the years due to irregularities, loan scams and mismanagement under the watch of regulatory bodies during the previous regime.

For instance, International Leasing, listed in 2007, performed well until 2015. It later fell victim to loan scams committed by Proshanta Kumar Halder, popularly known as PK Halder, and his associates, along with three other NBFIs.

A central bank investigation in 2019 revealed that PK Halder had siphoned off nearly Tk 10 billion from International Leasing alone by taking loans in the names of co...