Bangladesh:Securities regulator asks entities in the sector to provide life cover for their employees

The Bangladesh Securities and Exchange Commission (BSEC) has directed stock market-related firms, including market intermediaries, stock exchanges and listed companies, to provide their employees with health and life insurance.

The COVID outbreak has increased alarmingly in the country, the BSEC said in a circular on 12 May. The Dhaka Stock Exchange, Chittagong Stock Exchange, Central Depository Bangladesh and Central Counterparty Bangladesh will acquire health and life insurance for all of their employees and inform the BSEC about the matter by 25 June, reported New Age citing the circular.

However, listed companies and market intermediaries that include merchant bankers, brokerage houses, asset management companies, credit rating agencies, custodians, trustees and fund managers must provide health and life insurance as soon as possible.

There are 336 listed companies, 240 stockbrokers on the DSE and 142 on the CSE, 63 merchant banks, eight credit rating agencies and 48 asset management companies in the capital market.

Apart from these companies, there are 11 firms in the capital market which provide custodian, trustee and fund management services.

Source: Asia Insurance Review