Irregularities to be stopped if law reformed: Muhith

Special Correspondent: Finance Minister Abul Maal Abdul Muhith said no financial institution of the country will be allowed to go bankrupt. Once there were some weaknesses in the law, which are being reformed necessarily. Way of irregularities will be stopped once the law is reformed.

He also said insurance sector has a bright future as the country's economy is moving forward over the years.

"The government is working sincerely to further develop the insurance sector for ensuring social and economic stability in the country...insurance sector is developing gradually, he added.

The minister told a function at the Finance Ministry in the capital on Tuesday.

At the function, Sadharan Bima Corporation handed over Taka 40 crore dividends (for the calendar year 2016) to the finance minister. Sadharan Bima Corporation Chairman Shibli Rubayat-ul-Islam and its Managing Director Syed Shahriyar Ahsan handed over a cheque to the minister.

Speaking on the occasion, Muhith said the government has already brought the insurance sector under regulations, but this sector is yet to be matured.

So, he said, there are scopes for the further development of the sector, urging the insurance companies to come up with new products in market through innovative ideas aiming to expand their businesses.

Financial Institutions Division additional secretary Manik Chandra Dey was, among others, present.


risingbd/Dhaka/December 26, 2017/Hasnat/A K Azad