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Govt working to develop insurance sector: Muhith

DHAKA: Finance Minister AMA Muhith today said the government is striving to further develop insurance sector for ensuring social and economic stability in the country.

“There are many insurance companies in the country. But insurance businesses have not flourished as compared to multiple insurance companies. So there exists enough room for further development of the sector,” he said while speaking as the chief guest at a seminar titled “Protecting the Poor: Emerging Micro Insurance Market in the South Asia” at Dhaka Club in the city.

Muhith said the government will take steps to activate the Bangladesh Insurance Academy (BIA) and make tolerable the renewal fees of insurance companies.

He urged the insurance companies to bring new products in the market through innovative ideas to expand their businesses.

The finance minister called for bringing the insurance companies under e-governance as different sectors of the government have already introduced e-governance.

Senior Secretary of the Financial Institutions Division M Eunusur Rahman and Insurance Development and Regulatory Authority (IDRA) Chairman M Shafiqur Rahman Patwary attended the seminar as special guests.

BIA President Sheikh Kabir Hossain presided over the seminar.

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