BIA welcomes budget

Bangladesh Insurance Association (BIA) has welcomed the proposed national budget for fiscal year 2018-2019 presented by Finance Minister Abul Maal Abdul Muhith in the Jatiya Sangsad recently.

In a statement issued to the press on Saturday the BIA president Sheikh Kabir Hossain has greeted the government for withdrawing 15 per cent VAT on the agent's commission and reducing 2.5 per cent on corporate tax for the banking sector including insurance and other financial institutions (FIs).

"It is hoped that this decision would enlighten the insurance companies who will be able to devote themselves to contribute to a greater extent to our economy," he said.