Sukanta Halder

Claim settlement in the insurance sector in Bangladesh stood at 67 percent in 2022, highlighting bad investments and non-compliance that prevented insurers from attaining a higher ratio, data from the regulator showed.

Bangladesh’s life insurance sector has always struggled in claim settlement, but the sector still has some good companies who are bearing the torch for all with faster fund repayment and good corporate governance.

A number of life insurance companies in Bangladesh struggled to settle claims in 2022 due to a lack of liquidity resulting from bad investments and fund embezzlement by their chairmen and directors.

The vehicle insurance business in Bangladesh is passing hard times as people are not interested in insuring automobiles in the absence of legal obligation as well as a lack of trust in insurers and promotional activities.

Wheat importers of Bangladesh are exploring alternative sources to ensure uninterrupted domestic supplies after Russia pulled out of a UN-brokered Black Sea grain deal that assured safe transport of Ukrainian wheat. 

Aiming to safeguard intellectual property rights, the government is going to increase the punishment for violating copyrights, with more specific definitions and the inclusion of some new provisions.

Just a decade ago, Fazli, Himsagar, Langra and Gopalbhog mangoes were the most popular varieties of the fruit among consumers in Bangladesh.

Durable Plastic Limited, a concern of Pran-RFL Group, is scheduled to launch its “Safemet” motorcycle helmet brand at a hotel in the capital today.

Bangladesh’s wheat market may see fresh volatility after Russia pulled out of a United Nations and Turkey-brokered deal that could turn the global grain market unstable, importers warn.

Although Bangladesh has secured geographical indication (GI) status for 15 products so far, local businesspeople have yet to benefit in absence of global demand for these goods, according to experts.

Bangladesh’s wheat market may see fresh volatility after Russia pulled out of a United Nations and Turkey-brokered deal that could turn the global grain market unstable, importers warn.

The demand for electric motorbikes is increasing in Bangladesh for being an eco-friendly and cost-effective mode of transport.

More than 37,000 clients of Homeland Life Insurance Company Ltd are facing uncertainty about whether they would get back their insured amount owing to a lack of liquidity at the insurer caused by alleged irregularities, the regulator found.  

Firoza Begum, a resident of Shalmara village in Bhelabari union under Aditmari upazila of Lalmonirhat, opened a 12-year term policy with Fareast Islami Life Insurance Company some 15 years ago. 

CAG audit finds

The BSCIC suffered a loss of Tk 25.32 crore in 2018-2019 and 2019-2020 as it did not realise dues related to service charges and lease money from a number of plot owners in several industrial estates, according to an audit report.

The demand for anti-mosquito products, such as coils, aerosol sprays, nets and rackets, has increased in Bangladesh as people are looking to avoid dengue fever amid the recent outbreak, according to businesspeople.

Onion prices have gone up in both wholesale and retail markets in Bangladesh in the span of a week owing to the higher cost of imported varieties of the kitchen staple.

Like many in Bangladesh, Farhan Tanvir often struggled to find suitable clothing given his large size.

Like the previous few years, the price of rawhide is low this year