FAS Finance and Investment Limited was established on 4 March 1997 and received license to operate as a merchant bank 22 January 1998. FAS Finance and Investment Limited became a public limited company on 18 August 2001. It was financially sound until they sold their stakes in 2014. Md Rassel Shahriar and Prashanta Kumar Halder worked together in the same bank in 2007. He served as a director of Nitol Insurance Company Limited, a concern of
Nitol Niloy Group, and Clewiston Foods & Accommodation Limited, a concern of Clewiston Group. Pritish Kumar Sarker became the managing director of FAS Finance and Investment Limited in January 2018. The company was profitable till 2018. The Bangladesh Securities and Exchange Commission on 31 May 2021 had formed a new board of directors for FAS Finance and Investment Limited. Prashanta Kumar Halder had embezzled 13 billion taka from FAS Finance and Investment Limited through fraudulent loans. Halder had scammed three other financial institutions leaving to unable to pay back loans taken from various banks in Bangladesh. He was able to do so by getting his relatives appointed as directors in those institutions. Officers at FAS Finance and Investment Limited who refused to help Halder with the fraud were punished by the company. Halder had left the financial institution financially crippled. == Subsidiary ==