People’s Leasing liquidation: Depositors want their money back

Depositors of the liquidated People's Leasing and Financial Services on Monday formed a human chain in front of the central bank.

Small and individual depositors of the non-banking financial institution staged the protest.

To get their money back, the depositors demanded that government funds be used to restructure the financial institution, rather than liquidate it.

Citing 6,000 depositors of the institution, the protesters demanded the Prime Minister's intervention.

As the human chain ended, the depositors' council of the institution submitted an application to the central bank to get their money back.

Taking advantage of the weak surveillance of the central bank, an unscrupulous group had helped themselves to the depositors' money, the letter read.

If People's Leasing is liquidated, the institution does not have enough assets to be able to return depositors their money, said Rana Ghosh, general secretary of the depositors' council of the institution.

Besides taking legal action against those who embezzled the depositors' money, the government will have to restructure People's Leasing, like they did with Padma Bank.

Rana also said that they had a meeting with Bangladesh Bank Governor, Fazle Kabir after the human chain event.

"The Governor said that the Bangladesh Bank had written to the Finance Ministry, asking them to consider restructuring People's Leasing. A decision will be taken after receiving a response to the letter."