Will be allowed to survive at any cost: Finance Minister
Finance Minister Abul Mal Abdul Muhit has said, there are 46 life insurance companies in the country. We have excess companies in the country, the number of banks and insurance companies is also excessive. We follow the excitement. But nothing to be worried. We will not leave behind any institution (bank or insurance) if it falls in problem. That will be allowed to survive at any cost.
He said these while receiving the profit cheque of Sadharan Bima Corporation for the year 2016 at the secretariat on Tuesday. Sadharan Bima Corporation Chairman Professor Shibly Rubaiyat Ul Islam and Managing Director Syed Shahriar Ahsan handed over the dividend cheque of 40 crore taka to the Finance Minister. In the previous year (2015) the dividend was 30 crore taka.
Finance Minister said, the present government wants development in insurance sector. There was lack of regulations in this sector. Now the sector is coming under regulations, it is good. Still the insurance sector is not matured. There were lots of complains in this sector like not getting insurance, not meeting up claims which is increasing. But the future of insurance sector is good.
He said, Sadharan Bima is going forward naturally. Business is increasing as well as Sadharan Bima is increasing. But the matter of Jiban Bima is different. It is made increased in other way.
After the independence in 1973 Sadharan Bima Corporation was established as a government owned non-life insurance institution. It gained profit of 285.44 crore taka in 2016. Of this 82.52 crore taka was paid as income tax.