July 18, 2022 21:32:56
Audio system at a workshop on Monday known as upon the federal government, improvement companions and personal sector for enabling an setting for inclusive insurance coverage and danger financing for the nation’s sustainable improvement, leaving nobody behind.
The occasion titled ‘Inception workshop on Nation Diagnostic on Inclusive Insurance coverage and Threat Finance for Bangladesh’ “was organised at a resort in Dhaka, by the Monetary Establishments Division (FID), Ministry of Finance, Insurance coverage Growth and Regulatory Authority (IDRA), and the United Nations Growth Programme (UNDP).
Sheikh Mohammad Salim Ullah, Secretary, FID, Ministry of Finance, attended the workshop because the chief visitor, whereas Mohammad Joynul Bari, Chairman, IDRA and Van Nguyen, Deputy Resident Consultant, UNDP Bangladesh had been the particular friends.
Amongst others, Dr. Baqui Khalily, Chairman Threat Administration Committee, Financial institution Asia and Abdullah Harun Pasha, Extra Secretary, FID, Ministry of Finance had been additionally current, reviews UNB.
Sheikh Mohammad Salim Ullah stated, “There may be an rising want for resolution makers to be concerned in creating the insurance coverage merchandise. In addition they want to know how local weather change dangers may have an effect on their investments and easy methods to mitigate these dangers by way of correct planning, incentive buildings and monetary devices. On this context, to attain the mission of creating an environment friendly, inclusive and sturdy monetary market and providers system, FID is constantly engaged on many tasks. Being part of this undertaking is one other milestone for our establishment to enter the groundwork in inert-related areas of insurance coverage and danger finance. “
A.Okay.M. Mamunur Rashid, Local weather Change Specialist, UNDP Bangladesh set the tone of the occasion.
He supplied a quick overview of why inclusive insurance coverage and danger financing are important for Bangladesh to cowl the dangers of essentially the most weak communities. Jan Kellett, Staff Chief, Insurance coverage and Threat Finance Facility (IRFF), UNDP delivered a presentation on “Initiatives of the Insurance coverage and Threat Finance Facility, UNDP and several other greatest practices within the house of inclusive insurance coverage and danger financing”.
Van Nguyen from UNDP stated, ” I hope that underneath the management of FID, MoF and IDRA because the regulatory authorities, sturdy illustration of the insurance coverage business and related key stakeholders – the nation diagnostic will present us with a transparent course for creating enabling setting for mainstreaming inclusive insurance coverage and danger financing within the nation. We’re dedicated to persevering with our assist sooner or later to strengthen the legislative frameworks, institutional capability and insurance coverage business for enhancing the resilience of essentially the most weak communities and attaining Sustainable Growth Targets (SDGs) in Bangladesh.”
Dr. M. Baqui Khalily, chairman, Threat Administration Committee, Financial institution Asia, Nasir Uddin Ahmed, first vice chairman, Bangladesh Insurance coverage Affiliation, Netai Dey Sarker, director, Division of Catastrophe Administration, Authorities of Bangladesh additionally spoke on the occasion.
Bangladesh is likely one of the most weak international locations because of its low-lying delta ecosystem that exposes the nation to a number of disasters similar to flash floods, monsoon floods, cyclones, storm surges, salinity intrusion, drought and unpredictable rainfall, stated UNDP.
The federal government of Bangladesh (GoB) is eager to discover the insurance coverage business to think about it as a danger switch mechanism. UNDP is conducting a rustic diagnostic that may doc and assess the dangers and vulnerability in Bangladesh contemplating the present enabling setting and monetary devices.
The diagnostic examine will spotlight challenges, alternatives, and areas the place UNDP can, along with companions, present the mandatory assist for the federal government and personal stakeholders to enhance the enabling setting for inclusive insurance coverage and danger financing.