Abstract

Fostering more efficient capital allocation; encouraging loss mitigation; enabling risk to be managed more efficiently; helping mobilized savings; facilitating trade and commerce; substituting for and complementing government security programs and promoting financial stability insurance company plays a vital role to a country's economy. Despite prolonged political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms Bangladesh's economy has grown by approximately 6 percent annually for two decades. In this case, the insurance companies of Bangladesh have been keeping a significant role for a long since. Considering the enhancement of the development of insurance sectors, different institutes and academics have been established. But those are inadequate for the fulfillment of developing this industry and manpower also. So, regarding this context, I select the matter of The Effects of Training & Development of Performance: A Case Study of Fareast Islamic Life Insurance Ltd. This study is conducted to Fareast Islamic Life Insurance Head Office and its five branch offices. Identification of the improvement of manpower and their occupational development and how they can contribute to their organization is the main issue of this study.

Highlights

  • There is a significant role to develop for the further advancement of a country’s economy by its financial sector (Ahmad and Malik, 2009)

  • 5.2 Findings It is found that 95.2% of the respondents replied that it is very required to arrange a training program for improving the individual skill and progress of its business

  • It is showing by the study that 62.66% of respondents attended only one training program

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Summary

Introduction

There is a significant role to develop for the further advancement of a country’s economy by its financial sector (Ahmad and Malik, 2009). The financial sector of Bangladesh comprises the credit market, money market, Islamic and non-Islamic insurance companies, several financial institutions, capital markets, and microfinance (Khan, 2014). The Ministry of Commerce in Bangladesh governs the entire insurance sector as well as Islamic and non-Islamic insurance companies (Chowdhury, 2014). The insurance companies of Bangladesh are governed on the Insurance Act 2010 (Insurance Development & Regulatory Authority Bangladesh, 2013). Some insurance companies were launched from 1947 to 1970, while Bangladesh was identified as East Pakistan (Rahman, 2013). More than 47 insurance companies together with local www.cribfb.com/journal/index.php/ijbmf

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