Dhaka, June 22 -- In a major relief move, Bangladesh Bank (BB) has decided to appoint administrators to initiate the liquidation process of five effectively bankrupt Non-Bank Financial Institutions (NBFIs) and return funds to thousands of distressed small depositors.

Under the regulatory rescue roadmap, the central bank will initially refund individual depositors with savings up to Tk 10 lakh. The required capital for this first-phase reimbursement will be disbursed from a specialized government fund allocated in the national budget.

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According to central bank sources, the five financial institutions designated for formal liquidation are FAS Finance...