Fareast Islami Life Ins holds directors' meeting

A meeting of the newly constituted board of directors (267th Board) of Fareast Islami Life Insurance Company Limited nominated by the Bangladesh Securities and Exchange Commission was held on Sunday at Fareast Tower on Topkhana Road in the capital, says a statement.
Sheikh Kabir Hossain, chairman of the newly formed board of directors, presided over the meeting.
Board members Dr Md Ibraheem Hossen Khan, Dr Sheikh Mamun Khaled, Jahurul Islam Chowdhury, Al-Haz Md Helal Miah, Dr Md Rafiqul Islam, Dr Lafifa Jamal, Mohammad Ali Nawaz, Mohammad Masum Mia, Arif Khan, Mostafa Jamanul Bahar and CEO of the company Dr Chowdhury Mohammad Wasiuddin, DMD and CFO Mohammad Alamgir Kabir, and Company Secretary SM Nure Alam were present at the meeting.
At the meeting, the members of the board of directors presented the overall scenario of the company and decided to expand the business through sustainable development and resolving the existing problems of the company.
The new board of directors nominated directors and trustee members of various subsidiary entities of Fareast Islami Life Insurance Company Limited (FILIC).
They also formed Audit Committee, Nomination and Remuneration Committee and Executive Committee.
At the board meeting, they expressed satisfaction over the approval by the competent authority of a fund of Tk 4.13 billion in favour of the company to settle the claims of clients.
The board also decided to increase the company's liquid money by selling its fixed assets phase by phase.