Khasru seeks to recover accountability in the banking and insurance sector

BNP Standing Committee Member Amir Khasru Mahmud Chowdhury stated on Wednesday that accountability must be restored in the banking and insurance industries, which have grown under the sway of political parties over the last 15-16 years.

“Over the last 15-16 years, ownership of banks and insurance businesses has been granted based on political affiliation.  As a result, there has been a significant amount of pillage during this time.  As a result, accountability must be restored to the banking and insurance industries.  “Just as no country can function without accountability,” he explained.

Khasru delivered the statements while serving as the keynote speaker at a discussion at the Diploma Engineering Institute commemorating Popular Life Insurance Company Limited’s 25^th anniversary.

Khasru urged all insurance businesses to prioritise accountability, stating, “Accountability issues are critical to the security of your consumers and staff.  To improve the organisation, everyone must be aware of the areas.”

He emphasised the importance of responsible behaviour among all players, saying, “Just as everyone in a family has to be responsible, everyone must be responsible in this sector as well.”

“The company’s management must be responsible, employees must be responsible, agents must be responsible, and, most importantly, regulators must be responsible,” he stated, adding that the ministry under which the insurance company operates must also be accountable.

Referring to what he described as a magnificent festival of plunder during the era of the fascist Awami League government, he stated, “Considering the insurance sector, the banking sector, and everything else in Bangladesh, what we have seen in recent times is a major, grand festival of plunder.”

He stated that several institutions had gone bankrupt as a result of the looting.

“Only those who received funds from banks and insurance firms profited.  However, these institutions have been damaged.  As a result, all of the persons engaged with these companies have suffered,” he stated.