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 recently at Fareast Tower, Topkhana Road, Dhaka-1000.
Sheikh Kabir Hossain, chairman of the newly formed board of director presided over the meeting, says a press release.
Board members Dr Md. Ibraheem Hossen Khan, Sheikh Mamun Khaled (PhD), Mr Jahurul Islam Chowdhury, Al-Haz Md Helal Miah, Dr Md Rafiqul Islam, Dr Lafifa Jamal, Mr Mohammad Ali Nawaz, Mr Mohammad Masum Mia, Mr Arif Khan, CFA, FCMS, Mr Mostafa Jamanul Bahar and CEO of the company Dr Chowdhury Mohammad Wasiuddin, FCA, DMD & CFO Mohammad Alamgir Kabir, FCA and Company Secretary (CC) 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 the various subsidiary company of Fareast Islami Life Insurance Company Limited (FILIC).
They also formed Audit Committee, Nomination and Remuneration Committee (NRC), Executive Committee (EC) etc.
The chairman advised all the members of the board of directors to perform their duties effectively and efficiently for creating very good faith on the new board.
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 decides to increase the company’s liquid money by selling its fixed assets phase by phase.
Sheikh Kabir Hossain, chairman of the company expressed his hope that the country's leading insurance company would soon be able to increase the trust and confidence of its customers and the people.