Fakhrul Islam Published: 30 Jan 2021, 21:24 The state-run insurance company, Jiban Bima Corporation (JBC), is mired in multifarious irregularities and corruption. In the last two years, there have been financial irregularities worth Tk 1.96 billion in this company. Of this, Tk 1.54 billion alone has been spent on the surplus management. According to the law, JBC is obliged to deposit the dividend funds in the government treasury. But the company did not deposit its profits of Tk 230 million (Tk 23 crore). It paid incentive bonuses without any approval, did not collect arrears of rent and paid lunch allowances to employees in violation of the pay structure. In addition, some employees embezzled the premium money of insurance customers. This caused the government financial losses of another Tk 180 million.