Dhaka, April 3 -- Despite facing liquidation, the shares of scam-hit non-bank financial institutions (NBFIs) have surged sharply on the stock exchanges over the past three months.

The five listed NBFIs-FAS Finance, Premier Leasing, Fareast Finance, People's Leasing, and International Leasing-have seen their share prices jump between 238 per cent and 343 per cent during the period, while they have remained largely non-operational for years.

This has happened at a time when many well-performing companies are experiencing price erosion on the back of global geopolitical tensions surrounding the Middle Eastern war.

Market analysts attribute the unusual rally to speculation that the BNP-led government may reconsider or delay the liquidation...