Govt to amend insurance act, says Moudud
Star Business Report
Law, Justice and Parliament Affairs Minister Moudud Ahmed said government will take initiative to amend existing insurance act to introduce takaful, an insurance system in line with Islamic Shariah, in order to achieve the goals of Islamic Insurance as well as Islamic economy. He was speaking at a discussion on "Role of Islamic Insurance in Islamic Economy" organised by Islami Insurance Bangladesh Ltd on Wednesday in Dhaka. Speaking at the meeting the minister assured if the concerned ministry sends proposal for amendment in this connection, the Law Ministry will approve and submit it to the parliament within 72 hours. For giving legal coverage to takaful, government has already setup a committee to suggest necessary amendments in the present insurance act, said Commerce Minister Altaf Hossain Choudhury in the discussion. Chairman of Islami Insurance Bangladesh Ltd Tofazzal Hossain and Islamic economist Shah Abdul Hannan were also present at the function.
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