TBT DESK: The central bank has appointed an administrator to oversee Aviva Finance Limited, as part of its ongoing efforts to stabilise troubled non-bank financial institutions (NBFIs).
According to a Bangladesh Bank order, the move is aimed at ensuring the continuation of operations and safeguarding depositor interests at the Shariah-based financial institution.
A senior official from the central bank’s Financial Institutions and Markets Department has been assigned to take charge as administrator. He will assume responsibility for managing the company’s affairs, exercising the powers of its management and chief executive on a temporary basis.
The appointment comes against the backdrop of regulatory actions targeting several distressed NBFIs, including Aviva Finance, which has been identified among institutions facing severe financial stress and high levels of defaulted loans.
Officials said administrators are being deployed to facilitate an orderly resolution process, with priority given to repaying individual depositors before any formal liquidation proceedings begin.
The central bank has in recent months stepped up oversight of weak financial institutions, signalling a broader push to restore discipline and confidence in the sector.
No immediate statement was available from Aviva Finance regarding the latest development.
