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Insurance firms asked to avoid transport luxury
The insurance regulator has directed the insurance companies to shun luxury in buying and using vehicles as it causes loss to the interest of policy and share holders.
Insurance Develop-ment and Regulatory Authority (IDRA) issued a circular Wednesday with this directive.
The circular announced new guidelines for trans-portation and vehicular uses of the Chairmen and Chief Executive Officers (CEO) along with other uses of the life and non-life insurance firms.
It said that the vehicles for the Chairmen and CEO or managing directors have to be bought within Tk 4 million.
Besides, the Chairmen will get only one car and no other members of the board will not get any transport facility.
[ Business ] 2012-07-26