The Government of Bangladesh has appointed a new leadership to steer the country’s life insurance sector, signalling a renewed strategic direction for one of the nation’s oldest financial institutions. Mohammad Ziaul Haque, previously serving as Additional Secretary at the Ministry of Power, Energy and Mineral Resources, has been appointed Managing Director (MD) of the Life Insurance Corporation of Bangladesh (LICB). Concurrently, his employment has been transferred under the purview of the Financial Institutions Division.
The appointment was formally announced on Monday, 7 January, through a notification issued by the Cabinet Division. According to the official release, Mr Haque will be responsible for overseeing the corporation’s overall administration, policy formulation, and operational management.
Established as one of Bangladesh’s largest and longest-standing life insurance providers, LICB plays a crucial role in delivering life insurance services to diverse segments of the population while supporting the stability of the national financial sector. The corporation operates across both urban and rural regions, and its steadily growing policyholder base continues to contribute to the expansion and development of the sector.
Mr Haque brings extensive experience from public service, which is expected to introduce efficiency, strategic insight, and dynamism to LICB’s operations. His tenure at the Ministry of Power, Energy and Mineral Resources was marked by notable expertise in policy development and administrative management—skills that are anticipated to support LICB’s long-term strategic growth.
A brief overview of LICB’s main divisions and their key responsibilities is outlined in the table below:
| Division | Core Responsibilities | Objectives & Goals |
|---|---|---|
| Administrative Division | Supervision of daily administrative operations | Ensure transparency and provide timely services |
| Finance Division | Investment and fund management | Maintain safe and profitable investment policies |
| Customer Service Division | Management of client requests and complaints | Enhance customer satisfaction and trust |
| Policy & Planning Division | Formulation of policies and long-term planning | Promote sustainable development and financial stability |
Government sources indicate that under Mr Haque’s leadership, LICB is expected to evolve into a more robust and progressive institution, enhancing public confidence while strengthening the stability of Bangladesh’s financial sector. The new strategic direction will play a pivotal role in the life insurance industry’s development, operational efficiency, and long-term sustainability.