Published : 20 Oct 2026, 12:49 AM
Updated : 20 Oct 2026, 12:49 AM
The Bangladesh Securities and Exchange Commission (BSEC) has allowed 12 subsidiaries of nine non-bank financial institutions (NBFIs) to continue operating, with eight given deadlines to address capital shortfalls.
Four subsidiaries can continue without extra time. Of the eight facing capital gaps, one has until December and seven until April next year to meet requirements.
The BSEC announced the decision after a commission meeting on Monday.
It said the subsidiaries belong to nine institutions whose licences are being processed for cancellation by Bangladesh Bank.
Those given six and a half months include International Leasing Securities, Fareast Stocks and Bonds, and FAS Capital Management.
In August, Bangladesh Bank decided to liquidate their parent companies: International Leasing and Financial Services, Fareast Finance and Investment, and FAS Finance and Investment.
The central bank declared Aviva Finance non-viable, suspended its share trading and appointed an administrator.
The BSEC allowed its subsidiary, Aviva Equity Management, to operate because it has sufficient net assets.
Conflicting Figures on Liquidation
Bangladesh Bank reversed an earlier decision to liquidate nine NBFIs last December.
After granting extensions, it decided in August to liquidate four and appointed administrators.
Administrators will recommend whether the institutions should be liquidated or kept running. The central bank will decide after assessing their financial positions.
The BSEC referred to nine institutions facing licence cancellation. Bangladesh Bank spokesperson Arief Hossain Khan told bdnews24.com administrators had been appointed at only four.
Subsidiaries Allowed to Operate
The BSEC cleared subsidiaries with no capital shortfall, including Premier Leasing Securities Broking, under Premier Leasing and Finance; PLFS Investments, under Peoples Leasing and Financial Services; and Prime Finance Capital Management, under Prime Finance and Investment.
Those granted more time include Premier Leasing Securities; PFI Securities and Prime Finance Asset Management; IL Capital; GSP Investment; and FAS Capital Management.
In January, Bangladesh Bank decided to liquidate FAS Finance, Premier Leasing, Fareast Finance, Aviva Finance, Peoples Leasing and International Leasing.
GSP Finance, Prime Finance and Bangladesh Industrial Finance Company got three months to restore viability, expiring in April.
On Jul 1, Premier Leasing, Prime Finance, GSP Finance and BIFC received more time; administrators were appointed in August.
