An exchange meeting was held with the chairman and members of the Insurance Development and Regulatory Authority (IDRA) and the executive committee members of the Bangladesh Insurance Association (BIA) on the ongoing status of the insurance sector.

The meeting was held at the authority’s office on Tuesday (August 20).

It is said in the circular, at the beginning of the meeting, the souls of the martyrs in the anti-discrimination movement of the students and the people were prayed for forgiveness and speedy recovery of the injured. It is hoped that IDRA and BIA will work together with the current interim government to address potential insurance sector issues in the coming days.

Recently, some field workers of a life insurance company are trying to destabilize the insurance sector by destroying the normal working environment of government offices by staging a sit-in program in front of the office of IDRA. Which is not desirable at all. BIA calls upon the field workers to desist from such programmes. In this case, it is noteworthy that the names of all life insurance companies are mentioned in the position program, but only one life insurance company is identified. It appears that the BIA strongly condemns the deliberate use of the names of all insurance companies and urges those concerned to desist from such activities in the future.

All insurance companies are governed by insurance laws and prevailing laws/rules of the country. If someone is aggrieved by the law, the law has a remedy. In this context, it is observed that the said program against the Chairman of IDRA involved display of placards containing various indecent slurs and inaudible and obscene slogans which in the view of the BIA are not acceptable at all.

BIA strongly believes that the Chairman of IDRA is an honest, competent and experienced officer. The experience and expertise of the chairman of IDRA is highly needed for the development of the insurance sector.

BIA’s first vice-president Nasir Uddin Ahmed (Pavel), vice-president AKM Monirul Haque, and executive committee members Abdullah Al Mahmud Mahin, Hossein Akhtar, BM Yusuf Ali, Farzana Chowdhury, Md. Jalalul Azim, Md. Imam Shaheen, Kazim Uddin and Md. Golam Kibria was present.