Depositors have alleged that PLFS is being liquidated at the behest of those who looted it
Opposing liquidation of the People's Leasing and Financial Services Limited (PLFS), individual and small investors have demanded the enterprise be refinanced like Padma Bank was.
The depositors formed a human chain in front of the central bank Monday under the banner of the PLFS Individual and Small Investors' Council. They drew the prime minister's attention to stopping the liquidation.
At the demonstration, Chief Coordinator of the Council Atiqur Rahman said 6,000 PLFS depositors did not get their money back despite contacting the central bank repeatedly.
Noting that the liquidation approval for the company reduces the chances of getting deposits back, organisers of the demonstration demanded that PLFS be protected in the same way that scam-tainted Padma Bank was saved.
The depositors alleged that People's Leasing sank due to the central bank's lax monitoring of the corruption of the top PLFS officials.
"The Bangladesh Bank has not taken any action to stop corruption at People's Leasing. Instead, depositors' money was looted in front of the central bank's senior officials. And many of the plunderers are now roaming around publicly," said one of the depositors.
They alleged that many of the plunderers were provided safe passage to escape the country, as Prasanta Kumar Halder fled to Canada after swindling Tk3,500 crore.
The depositors alleged that PLFS is being liquidated at the behest of those who looted it.
Earlier on 19 October last year, the depositors formed a human chain in front of the central bank with the same demand.
On 21 May 2019, the Bangladesh Bank applied to the finance ministry for liquidation of People's Leasing and got the approval on 26 June in the same year.
Then on 10 July, the Bangladesh Bank officially announced the liquidation. Following the announcement, the central bank on 11 July imposed restrictions on money withdrawals from PLFS.
On 14 July, 2019, the central bank appointed a liquidator to PLFS on the direction of the High Court.
The total deposits in the non-bank financial institution amount to Tk2,000 crore. Of it, individual and small investors' deposits are around Tk700 crore.
Established in 1997, the company, tainted by numerous irregularities, faced the liquidation initiative at the age of 22 years.
The court issued an arrest warrant against Prasanta Kumar Halder, also known as PK Halder, in December last year for embezzling about Tk3,500 crore from the institution.
On 9 January this year, Interpol issued a red notice against the person who reportedly is living in Canada now. According to several media reports, PK Halder siphoned off Tk10,000 crore from the country's multiple financial institutions.