The Bangladesh Bank (BB) on Wednesday instructed non-banking financial institution (NBFI) Union Capital Ltd not to disburse loans over Tk 1 crore as they had repeatedly failed to repay their depositors.
In a letter on Tuesday, the central bank retaliated instructions to the NBFI to return the funds to depositors as their funds reached maturity.
The letter also mentioned that British American Tobacco Bangladesh (BATB) complained to BB that it received only Tk 50 lakh from NBFI even after keeping a deposit of Tk 100 crore, which has already matured and stands at Tk 108.52 crore.
The central bank also asked Union Capital to settle the issue with BATB through discussions.
