Foreign companies see potential in Bangladesh's insurance sector, said BNP standing committee member Amir Khasru Mahmud Chowdhury.
At present, the service sector, which includes insurance companies too, is playing an important role globally. Many international organizations have shown interest in Bangladesh's insurance sector, said Mr Chowdhury, also a former minister of commerce, at Annual Business Conference of People Insurance Company limited, held at the University of Information Technology & Sciences (UITS) in the capital on Saturday.
"They are watching to see where this sector is going," he said, adding that to attract a global company, local companies must show competence in their balance sheets, management style, deployment of technology and branding.
Mr Chowdhury is a former chairman of the insurance company. Another former chairman and noted industrialist Sufi Mohammed Mizanur Rahman was also present at the event.
In his speech, Mr Chowdhury said it was important to see how much assets of a company increased by the end of each year.
"The interest of everyone linked to the company is tied to this, as well as the stock market," he said.
Underscoring the need for sustainable management of an insurance company, he said there are many disruptive innovations.
Sufi Mohammed Mizanur Rahman said it is important for anyone to dedicate themselves to the betterment of people.
"When you work for yourself, there will be no result. When you work for others it will yield positive results."
He said the PHP Group had become one of the leading conglomerates of the country through dedication, hard work, transparency and being philanthropic.
The UITS, a concern of the PHP, provides free education to around 40 per cent of the total students, he added.
Adviser M.H. Khaled, Managing Director & CEO S. M. Azizul Hossain, directors and other officials were also present at the annual conference.
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