A new nonbank financial institution, Strategic Finance and Investment Limited, has secured final approval from Bangladesh Bank to run operations. The central bank issued a notice on awarding the authorisation to the new institution on Sunday, central bank spokesperson Serajul Islam said. Earlier, the institution got initial approval on January 12 this year, reports bdnews24.com. Anjuman Ara Shahid, the chairperson of the new institution, is the spouse of Padma Bank Chairman Chowdhury Nafeez Sarafat. As many as 34 nonbank financial institutions are operating in Bangladesh. The liquidation of one of the institutions, People’s Leasing and Financial Services, is under way. Some others are also unable to return depositors’ money.
