VOL NO REGD NO DA 1589

Monday, July 03, 2006

HEADLINE

POLITICS & POLICIES

METRO/COUNTRY

EDITORIAL

MISCELLANY

LETTER TO EDITOR

COMPANIES & FINANCE

BUSINESS/FINANCE

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

SPECIAL ON BIRD FLU

URBAN PROPERTY

FE Education

FE Information Technology

Special on Logistics

NATIONAL DAY OF EGYPT

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

SWISS NATIONAL DAY 2006

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

COMPANIES & FINANCE
 
Fareast Islami Life launches 'service month'
Moudud urges businessmen to refrain from making profit in illegal way
FE Report
7/3/2006
 

          Law, Justice and Parliamentary Affairs Minister Moudud Ahmed urged the country's businessmen to refrain from making profit in an illegal way.
He was speaking as the chief guest at an opening ceremony of the 'service month' of Fareast Islami Life Insurance Company Ltd (FILIC) in the city Saturday.
FILIC launched the service month beginning on July 1 on the occasion of its sixth anniversary.
On the occasion of the service month, the FILIC will render quick, efficient and cordial services to its customers.
Chairman of the board of directors of FILIC Tajul Islam opened the service month programme and State Minister for Religious Affairs Mosharref Hossain Shajahan, Malaysian High Commissioner in Bangladesh Abdul Malek Bin Abdul Aziz, Baitul Mokkarram National Mosque Khatib Moulana Obaidul Hoq and Moulana Syed Kamaluddin Jafari also attended the opening ceremony.
"Without adopting any illegal means business organisations can make profit and FILIC has shown an example in shariah-based insurance business," said Moudud Ahmed.
He requested the people engaged in insurance business not to get involved in any unhealthy competition as the country's insurance sector has already been engaged in such illegal practice to make more profit.
He also said the country has increased its food production threefold over the last thirty years, child mortality has come down from 239 to 46 and 97 per cent people have access to drinking water when the economic growth rate for the last fiscal year is estimated at 6.7 per cent.
Like insurance business in other countries, Bangladeshi businessmen have many things to contribute to the welfare of people now, added the minister.
"Only Islami economic system can ensure equity and justice in the global economy. Wide practice of Islami shariah-based insurance may root out the so-called interest-based and unhealthy competition-generating insurance business," said the Malaysian High Commissioner.
Now there are 60 insurance companies in the country, of which 43 are general and 17 life insurance companies. But only three companies are absolutely Islami shariah-based insurance companies and 11 others have started marketing Islami products.
Managing director of the FILIC delivered the welcome address.

 

Minister for Law, Justice and Parliamentary Affairs Moudud Ahmed speaking as the chief guest at the inaugural function of a service month of Fareast Islami Life Insurance Company Ltd (FILIC) at a city hotel Saturday.
 
  More Headline
Steps taken to enhance shrimp production
SMC launches IUD services through its Blue Star Network
Last date for Citigroup Microentrepreneurship Awards nomination July 7
British Acting High Commissioner in Bangladesh
Govt borrows Tk 12.78 billion thru' treasury bills
Tata Tea brews plans to buy S African co
banglalink opens its 25th point at Mirpur
Handloom industry in dire straits in Sirajganj, Pabna
Moudud urges businessmen to refrain from making profit in illegal way
Poultry business gaining ground in Manikganj
Bumper Boro production in Rangpur, Dinajpur
Renault, Nissan mull capital investment in GM
IFIC Bank accords reception to new chairman, vice-chairman
SUB organises seminar on Basic ISP Setup
Abdul Haque re-elected Mercantile Insís chairman
Asian stocks post best week in two years
Repair work of Shah Amanat Bridge begins
IFIL's board meeting held
Speakers term new budget 'anti-poor'
Sonar Bangla Ins earns Tk 12.57m net profit
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com