New company will succeed if it works with the right plan

The Chairman of the Insurance Development and Regulatory Authority (IDRA) Dr. M Mosharraf Hossain said that the new insurance company will be successful if it works with the right plan. He said this while handing over the license of NRB Islamic Life Insurance on Thursday (May 8, 2021).

The IDRA chairman said two more new insurance companies have been approved. However, insurance has not spread in Bangladesh in that way. A large number of people are still out of insurance. So if you work with the right plan, then hopefully new companies will be successful.

NRB Islamic Life Insurance's license handover ceremony was attended by the company's Chairman Kibria Golam Mohammad, Director M Mahfuzur Rahman, Director Mohammad Moinuddin Hasan Chowdhury and Chief Executive Officer (Current Responsibilities) Md. Shah Jamal Hawladar.

Another new company approved for life insurance business is Beachland Islamic Life Insurance Limited. The decision to grant the license to the company was finalized at the 133rd meeting of the Insurance Development and Regulatory Authority (IDRA) on March 26, 2021, sources said.