The NBFI has one month to make the amendmentsThe Bangladesh Bank has instructed Uttara Finance and Investments, a non-bank financial institution where it found huge irregularities, to amend its financial report for 2019 within the next month. Before the move, the central bank on December 1 last year had sought an explanation from Uttara Finance after finding huge irregularities in its books. Uttara Finance is adjusting its balance sheet through loan recovery from clients, Arefin added. The irregularities at Uttara Finance, which has been flying under the radar, came to light after the central bank last year inspected the NBFI’s books until 2019. Shares of Uttara Finance lost 13.8 per cent since January 10, when Dhaka Tribune broke the news of the NBFI’s irregularities.

Source: Dhaka Tribune February 16, 2021 19:41 UTC