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The Financial Express

FIs seek refinancing fund of Tk 100 billion

BLFCA donates Tk 95m to PM’s Fund


FE REPORT | Published: June 05, 2020 10:00:28 | Updated: June 07, 2020 09:54:27


FIs seek refinancing fund of Tk 100 billion

Prime Minister Sheikh Hasina joined a ceremony on Thursday via video conference where a delegation of Bangladesh Leasing and Finance Companies Association (BLFCA) donated Tk 95 million to the Prime Minister's Relief and Welfare Fund. Dr. Ahmad Kaikaus, Principal Secretary to Prime Minister, accepted the cheque.

The Bangladesh Leasing and Finance Companies Association (BLFCA) on Thursday sought directives from the Prime Minister to set up a refinancing fund of Tk 100 billion to help ease the liquidity crisis faced by the FIs.

"We have already urged Bangladesh Bank to help overcome the liquidity crisis, being faced by the Non-Banking Financial Institutions (NBFIs) and we drew the attention of the Prime Minister in this regard," a BLFCA source told the FE.

The BLFCA raised the issue when they donated Tk 95 million to the Prime Minister's Relief and Welfare Fund on the day.

Dr. Ahmad Kaikaus, Principal Secretary to Prime Minister, accepted the cheque on behalf of the Prime Minister on Thursday.

Prime Minister Sheikh Hasina joined the handover ceremony via video conference and thanked the delegation for coming forward in support of the adversely affected commoners.

During the ceremony, the delegation briefed the Prime Minister on the activities of the NBFIs and the importance of their contribution to the socio-economic development of the country.

On behalf of BLFCA, Md. Abdul Karim, Chairman, IPDC Finance and former Principal Secretary, Kazi M Aminul Islam, Founder Chairman of Meridian Finance and former Executive Chairman of BIDA, Arif Khan, Managing Director, IDLC Finance and Shamsul Arefin, Managing Director, Uttara Finance were present.

Chairman of BLFCA and Managing Director and CEO of IPDC Finance, Mominul Islam, said, "At the time of great peril, it is vital to stand by the disadvantaged and marginal population of the country, an example set by our Honourable Prime Minister. Today NBFI sector is humbled to be a part of such noble initiative. Moreover, with the implementation of the refinancing scheme for the NBFIs as appealed, we will be able to duly fulfil our responsibilities towards the rejuvenation of the economy and help positively change the fate of the underprivileged people of the country in the coming days."

IDLC Finance donated Tk 24 million, IPDC Finance Tk 20 million , LankaBangla Finance Tk 20 million and Uttara Finance Tk 15 million.

Other member companies of BLFCA contributed a total of Tk 16 million, from which Tk 5.0 million came from Phoenix Finance.

raihanmchowdhury@gmail.com

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