Bangladesh, Oct. 11 -- Finance Minister AHM Mustafa Kamal recently spoke in favour of liquidation or merger of 'weak and inefficient' non-banking financial institutions (NBFIs).
The minister gave his opinion at a meeting with the chairmen and managing directors of 34 NBFIs. He also asked the top notches of NBFIs to do whatever necessary to reduce the volume of soured loans and run their institutions efficiently.
The meeting was obviously organised against the backdrop of some unexpected developments involving some NBFIs. One NBFI, the People's Leasing and Financial Services Ltd (PLFSL), has already been liquidated and, at least two more are having difficult time in repaying the depositors' money. The liquidation of the PLFSL has, naturall...