Finance Minister AMA Muhith has said the insurance sector is expanding gradually in Bangladesh.
He said policy holders have increased 22 per cent to 16.5 million in the first six months from last year, substantiating his claim in the budget speech made in Parliament on June 2.
Meanwhile, in order to sustain this growth trend, the government has been continuing with various administrative and legal reforms in insurance sector.
Social safety insurance with Tk. 100 monthly premium has been introduced to bring the underprivileged section of people under insurance coverage.
Special insurance schemes also have been launched for the welfare of fishermen, construction, transport and garment workers, boatmen and farmers in disaster-prone areas, and of expatriates.
Noteworthy future initiatives for the development of this sector include insurance schemes for health, fishery and livestock, weather index-based crops, and capacity building of the regulatory authority.
Finance Minister Muhith says, “I hope, once these plans are implemented, contribution of insurance sector in the national economy would increase.”
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