Bangladesh to get Bangabandhu Insurance Institute

The insurance sector is going to get an insurance institute of international standards as Bangladesh Insurance Academy will be turned into Bangabandhu Insurance Institute. The Financial Institutions Division of the finance ministry has already formed a five-member committee in this regard, said a recent circular.

Insurance Development and Regulatory Authority (IDRA) Chairman M Mosharraf Hossain is the convener of the committee while Bangladesh Insurance Academy Director SM Ibrahim Hossain is the member secretary.

The committee’s other members are Bangladesh Insurance Association President Sheikh Kabir Hossain, Jiban Bima Corporation Managing Director Md Zahurul Haque, and Sadharan Bima Corporation Managing Director Syed Shahriyar Ahsan. The committee will review the IDRA’s proposal to convert Bangladesh Insurance Academy into an institute and determine ways to implement it.