Sukanta Halder

The Insurance Development and Regulatory Authority (IDRA) has appointed Sk Md Rezaul Islam, former additional secretary of the Ministry of Chittagong Hill Tracts Affairs, as administrator of Swadesh Islami Life Insurance Company with immediate effect.

Sk Md Rezaul Islam, former additional secretary, will be the new administrator with immediate effect

The Insurance Development and Regulatory Authority (IDRA) has fined Eastern Insurance Company Tk 5 lakh for not having the minimum investment required in government securities as per the Insurance Act 2010.

Steel consumption in Bangladesh is projected to rise by 25 percent to around 1.06 crore tonnes in 2027 from 85 lakh tonnes in 2024 thanks to growing infrastructure development projects and individual consumption, according to Bigmint.

The consumer market in Uttara, a planned suburb in Dhaka city, has witnessed steady growth over the years, prompting many retailers and brands to expand their operations in the area.

Before the 90s, Uttara offered little aside from open fields of green and waterlogged land.

Insurance companies in Bangladesh will no longer be able to charge policyholders for commissions or service fees while settling claims, according to the “Insurance Claims Management Guideline 2024”.

At present, there are 36 life and 46 non-life insurance companies in Bangladesh, which stands in stark contrast to just 24 life insurance companies in India, 10 in Pakistan, and 16 in Sri Lanka.

India yesterday removed the ban on onion exports subject to a minimum export price of $550 per tonne, a decision that can help boost the income of a large section of farmers and comes amidst Lok Sabha polls in key producing regions, including the state of Maharashtra.

Ferdous Hasan, who lives in the Motijheel area of Dhaka, recently purchased an air conditioner (AC) in a bid to find some respite from the ongoing heatwave sweeping across Bangladesh. However, he has been left frustrated by a prolonged delay in installation.

Potatoes are at least 50 percent costlier than a year ago owing to lower production, tight supply, and the profiteering tendency among a section of people in the supply chain, dealing a blow to the consumers already reeling under higher inflation.

Sumon Howlader, president of the Bangladesh Poultry Association (BPA), claimed that marginal farmers have suffered losses totalling around Tk 200 crore in the past 10 days due to the effects of the heatwave.

Syndication has become a buzzword among consumers in Bangladesh, particularly in relation to the abnormal price hike of essential commodities over the past several years.

Brig Gen (retd) SM Ferdous has already joined office: IDRA spokesperson

Ending last Friday, the fair showcased over 3,000 animals and birds, many of which were also on sale

The Insurance Development and Regulatory Authority (IDRA) has given Padma Islami Life Insurance five working days to explain why they should not be penalised for failing to settle claims amounting to Tk 211.82 crore last year.

Insurers shall not assist company directors, shareholders, their families or other related individuals in obtaining loans from financial institutions by using company assets as collateral, according to a draft amendment to Insurance Act 2010.

As such, at least a dozen e-ticketing platforms have emerged aiming to capitalise on people’s preference for convenience when availing transport facilities, according to market players.

Sonali Life Insurance Company’s former chairman Mostafa Golam Quddus and his six family member directors have embezzled at least Tk 187.84 crore from the company, an audit has found.

As middle and low-income segments of society struggle against the backdrop of a severe cost-of-living crisis, the surge in aggregate demand ahead of Eid-ul-Fitr poses a further hurdle for many striving to celebrate the festival.