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Sikder Insurance Company Limited has invested most of its assets in the capital market, parking funds in a single stock of scandal-ridden National Bank Ltd (NBL), in a corporate wrongdoing influenced by family ties.
Life insurance claims settlement: The Insurance Development and Regulatory Authority (IDRA) has ordered four life insurance companies to not spend any amount from their income through premiums, investments and life funds unless they settle claims of policyholders by the end of December
IDRA has ordered Fareast Islami Life Insurance Company Limited not to spend anything from its premium income, income from investment and life fund if it fails to settle claims of policyholders by this month
The Insurance Development and Regulatory Authority (IDRA) has directed life insurance companies to provide accurate information in their reports, stating that inconsistencies were regularly found with what it later unearthed through investigations.
To be eligible, banks have to show positive net profit for three consecutive years