Reveal the true APR of any loan app's advertised fee, self-check with a 10-item fraud red-flag checklist, and verify whether the institution is a Bangladesh Bank or MRA licensed lender.
Reveal the true APR of any loan app's advertised fee, self-check for fraud red flags, and look up whether the institution is licensed.
Annualized rate of the advertised fee over a 30-day tenor
This effective APR is abnormally high compared to conventional MFS/BNPL/NBFI ranges — a strong signal of a predatory or high-risk offer.
A representative sample of Bangladesh Bank licensed NBFIs/MFS providers and MRA-licensed MFIs
| Institution | Type | Regulator | License Category | Year Licensed |
|---|---|---|---|---|
IDLC Finance PLC | NBFI | Bangladesh Bank (Financial Institutions Division) | Bangladesh Bank Licensed NBFI | 1985 |
IPDC Finance PLC | NBFI | Bangladesh Bank (Financial Institutions Division) | Bangladesh Bank Licensed NBFI | 1981 |
LankaBangla Finance PLC | NBFI | Bangladesh Bank (Financial Institutions Division) | Bangladesh Bank Licensed NBFI | 1997 |
Delta Brac Housing Finance Corporation (DBH) | NBFI | Bangladesh Bank (Financial Institutions Division) | Bangladesh Bank Licensed NBFI (Housing Finance) | 1996 |
Bay Leasing & Investment Limited | NBFI | Bangladesh Bank (Financial Institutions Division) | Bangladesh Bank Licensed NBFI | 1997 |
Union Capital Limited | NBFI | Bangladesh Bank (Financial Institutions Division) | Bangladesh Bank Licensed NBFI | 1998 |
Uttara Finance and Investments Limited | NBFI | Bangladesh Bank (Financial Institutions Division) | Bangladesh Bank Licensed NBFI | 1995 |
BRAC (BRAC Microfinance Programme) | MRA-Licensed MFI | Microcredit Regulatory Authority (MRA) | MRA Licensed NGO-MFI | 2006 |
ASA | MRA-Licensed MFI | Microcredit Regulatory Authority (MRA) | MRA Licensed NGO-MFI | 2006 |
Grameen Bank | Bank | Bangladesh Bank | Specialized Statutory Bank (Grameen Bank Ordinance) | 1983 |
TMSS (Thengamara Mohila Sabuj Sangha) | MRA-Licensed MFI | Microcredit Regulatory Authority (MRA) | MRA Licensed NGO-MFI | 2006 |
bKash Limited | MFS Provider | Bangladesh Bank (Payment Systems Department) | Bangladesh Bank Licensed MFS Provider | 2011 |
Authoritative briefings grounded in the FIA 1993, MRA Act 2006, and Cyber Security Act 2023
A step-by-step method for directly verifying a lender's registration against Bangladesh Bank's NBFI list and MRA's MFI list.
From upfront fee demands to contact harvesting — the most commonly reported digital-loan-app fraud patterns in Bangladesh.
How a small advertised flat fee or 'service charge' can annualize into an effective APR of several hundred percent.
How some digital loan apps collect phone permissions and use a borrower's contacts to apply harassment-based pressure on late payment.
Step-by-step actions: the Bangladesh Bank Financial Consumer Helpline, filing a GD, and reporting to the Cyber Tribunal.
Which lender types fall under Bangladesh Bank and which under MRA, and how this dual oversight protects the borrower.
Guidance based on the FIA 1993, MRA Act 2006, CRPA 2009 s.44, and Cyber Security Act 2023