Bangladesh eyes insurance for 21 million public servants

November 10 2015 by InsuranceAsia News Staff

The Bangladesh government has announced plans to provide 2.1 million public servants with life and health insurance starting from the next fiscal year.

Banking secretary M Aslam Alam was quoted as saying that meetings with stakeholders have already been held with regards to the introduction of an insurance package for the country’s civil servants.

Alam stressed that it was difficult to introduce the new insurance system for all government workers.

The policy also needed more time for examination before its implementation, he added.

Based on the results of the meeting of the government’s bank and financial institutions division last week, the Insurance Development and Control Authorities, Jiban Bima Corporation, Sadharan Bima Corporation, Bangladesh Insurance Association and Bangladesh Insurance Academy will all submit proposals regarding the insurance package to the banking division, which will then finalise a proposal based on feedback from the finance division.

Alam was hopeful that the new insurance package will reduce the incidents of corruption among public servants in the country.