Experts call for inclusive insurance, risk finance for all

Speakers at a workshop on Monday called upon the government, development partners and private sector for enabling an environment for inclusive insurance and risk financing for the country’s sustainable development, leaving no one behind.

The event titled ‘Inception workshop on Country Diagnostic on Inclusive Insurance and Risk Finance for Bangladesh‘ “was organized at a hotel in Dhaka, by the Financial Institutions Division (FID), Ministry of Finance, Insurance Development and Regulatory Authority (IDRA), and the United Nations Development Programme (UNDP).

Sheikh Mohammad Salim Ullah, Secretary, FID, Ministry of Finance, attended the workshop as the chief guest, while Mohammad Joynul Bari, Chairman, IDRA and Van Nguyen, Deputy Resident Representative, UNDP Bangladesh were the special guests.

Among others, Dr. Baqui Khalily, Chairman Risk Management Committee, Bank Asia and Abdullah Harun Pasha, Additional Secretary, FID, Ministry of Finance were also present.

Sheikh Mohammad Salim Ullah said, “There is an increasing need for decision makers to be involved in developing the insurance products. They also need to understand how climate change risks could affect their investments and how to mitigate those risks through proper planning, incentive structures and financial instruments. In this context, to achieve the mission of developing an efficient, inclusive and robust financial market and services system, FID is continuously working on many projects. Being a part of this project is another milestone for our institution to enter the groundwork in inert-related areas of insurance and risk finance. ”