Dhaka, Dec. 2 -- Bangladesh Bank is finally set to take strict and sweeping actions to restructure the crisis-hit non-banking financial institutions (NBFI) sector, which has long suffered from widespread irregularities, weak governance, and the burden of defaulted loans.

The central bank's board has given final approval on Monday to begin the formal winding-up process of nine severely distressed NBFIs under the Bank Resolution Ordinance-2025.

The decision was made at a board meeting held on Sunday (November 30), chaired by Governor Ahsan H Mansur. It is being regarded as the most decisive and historic step taken by the regulator to restore financial discipline in the country's NBFI sector. The institutions marked for closure are FAS Fin...