Date : 2026-04-08

Meeting Held between PLFSL Management and Depositors’ Council

Dhaka, April 08, 2026 (Wednesday): A meeting was held at the head office of People’s Leasing and Financial Services Limited (PLFSL) at Purana Paltan, Dhaka, with members of the Depositors’ Council and their representatives to discuss the ongoing progress and future course of action of the Company.

The meeting commenced with a welcome address by the Chairman of PLFSL, who expressed his sincere appreciation to the Depositors’ Council for their continued engagement, cooperation, and support.

The Chairman provided a comprehensive overview of the Company’s current status and highlighted the progress made in compliance with the directives of the Hon’ble Court. He noted that the Company has undertaken several important initiatives, including continuation of limited business operations as permitted, successful completion of seven (07) pending Annual General Meetings (AGMs), and conducting special audits through court-appointed firms, namely MABs & J Partners Chartered Accountants, to identify financial irregularities and responsible parties. He also emphasized ongoing recovery efforts and the gradual repayment of depositors on humanitarian grounds.

The Chairman informed that approximately 1,000 depositors have already been fully repaid. In addition, partial payments of around 20% have been made to other depositors, and disbursement of a further 10% (third installment) has recently commenced.

He further stated that, in November 2025, the Board held a meeting with the Governor of Bangladesh Bank, as directed by the Hon’ble Court, to discuss a strategic revival plan for the Company. Although the importance of full repayment to depositors was emphasized, no concrete financial support has yet been finalized.

The Chairman also mentioned that the Company has formally approached the Government for financial assistance in the form of a soft loan/aid amounting to BDT 750 crore. Approval of such assistance would significantly accelerate depositor repayments and support the revival of business operations.

On behalf of the Depositors’ Council, Mr. Atiqur Rahman Atiq, President, expressed concern regarding the prolonged hardship faced by depositors. He urged the Management to prioritize early repayment, particularly for 76 depositors who have been actively engaged with the Council and are facing acute financial difficulties. Other representatives also requested consideration of individual applications for early settlement on compassionate grounds.

In response, the Managing Director reaffirmed the Company’s strong commitment to repay all depositors. However, he explained that repayment capacity remains constrained due to limited cash inflows and dependency on recovery of misappropriated funds.

He further informed that, based on findings from the special audits, claims amounting to approximately BDT 1,400 crore have been identified against four former directors. The Hon’ble

Court has granted them a specified timeframe for settlement. Successful recovery of these funds would substantially improve the Company’s financial position and enable faster repayment to depositors.

In his concluding remarks, the Chairman sought the continued support and cooperation of the Depositors’ Council in facilitating recovery efforts, advocating for government assistance, and exploring new funding opportunities.

The meeting was attended by Mr. Hasan Shaheed Ferdous, Court-appointed Chairman; Mr. Md. Sagir Hossain Khan, Managing Director; Mr. Atiqur Rahman Atiq, President of the Depositors’ Council; Mr. Abdul Ahad (Retd. Major General), Advisor; Mr. Humayan Kamal, Advisor; Advocate Ibrahim Molla, Major Kamrul Islam, Md. Fariduzzaman, Md. Kabir Khan, and eight (08) other depositors.

The meeting concluded with a vote of thanks, reaffirming the shared commitment of both the Management and the Depositors’ Council to resolve the depositor crisis in a transparent and cooperative manner.