DHAKA, Jan 12, 2023 (BSS) - Federation of Bangladesh Chambers of Commerce and 
Industries (FBCCI) today called upon the entrepreneurs of the insurance 
sector to work together for restoring customers' confidence. 

The country's apex trade body came up with this call at the first meeting of 
the standing committee on insurance held at the FBCCI today.

While speaking as the chief guest, FBCCI President Md. Jashim Uddin said that 
insurance is one of the important sectors of the country's economy, a press 
release said here. 

"However, a big challenge for this sector is a lack of confidence. We've to 
find out a solution to get out of this situation. All concerned in this 
sector should play an active role to change customers' negative perception 
towards the insurance industry," he added.
 
Jashim also said possibilities of the sector are yet to be utilized. "There 
is no alternative to developing skilled manpower in the development of the 
insurance sector," he noted.

FBCCI vice-president MA Momen said that although times have changed, but the 
insurance sector remained in the traditional process. "Modernization of this 
sector is very important. There is a need to attract new customers by 
bringing striking ideas, products and services."

Vice president Md. Amin Helaly informed that if the insurance companies 
submit their proposals in written form in coordination with the Insurance 
Development and Regulatory Authority (IDRA), FBCCI will discuss them with the 
government.

Director-in-charge of the committee A K M Monirul Haque called for working 
together to utilize the possibilities of the insurance sector. Former 
lawmaker and Chairman of the Committee Faridunnahar Laily called for the 
cooperation of all the stakeholders of this sector to face the challenges.

Secretary General of the FBCCI and former Managing Director of Life Insurance 
Corporation Mohammad Mahfuzul Hoque commented that it is important to have 
actuaries for the development of the insurance sector. 

He believed that if the sector comes under automation, many of the existing 
problems will be solved.

FBCCI directors Bijoy Kumar Kejriwal and Hafez Harun, committee co-chairmen 
Mojibul Islan, Ishaque Ali Khan Panna and Jalalul Azim were present, among 
others, at the programme.