External audit firm hired for People’s Leasing

An external audit firm has been appointed to assess financial condition of the liquidated People's Leasing and Financial Services Limited (PLFSL).

The appointment has been made following a court order to this effect, a senior official of the Bangladesh Bank (BB) told the FE on Monday.

The chartered accountant firm - Acnabin - has been auditing the PLFSL since September 2015 in line with the court order, the central banker added.

Md Asaduzzaman Khan, deputy general manager of the BB's Department of Financial Institutions and Markets, is now working as the liquidator for the non-banking financial institution (NBFI).

Considering fragile financial state of the PLFSL, the Ministry of Finance asked the central bank on June 27 to liquidate the NBFI, and protect the interest of its depositors.

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