A New Challenging Department: Banking and Insurance

Banking and Insurance at RU

Business and the commercial industries are rapidly expanding in our country as well as the banking sector has been expanding for the easier business transaction.

However, loss-profit, future uncertainty and accidents are closely related to the business.

The businessmen's go to the insurance companies to recoup the business loss or any accidental loss. The traders stop worrying after receiving confirmation from the insurance companies on behalf of financial compensation for the future uncertainty or accident.

Recently a new department named "Banking and Insurance" has been launched in the universities to bring speed and opportunities in the economics sector. The new department has already begun its journey at the Rajshahi University (RU) in 2014-2015 academic session despite it was launched recently at the University of Dhaka and Chittagong.

Academic activities of the new department named Banking and Insurance was begun on June 25, 2015. Professor Abdul Quddus, Department of Finance and Banking were appointed as the Chairman of this department. There are two teachers for this department with the departmental chairman. Circular has already published for the recruitment of new two teachers. A total of 41 students were enrolled in that department for the current academic session. Classes for the fresher's students to the new department will begin on January 22, 2015.

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Account BenefitSome of the important subjects that will be taught in this department, Principles and Practice of Banking, Principal of Finance, Principal of Insurance, Operations of Life and Non-Life Insurance, Corporate and Retail Banking, Investment and Merchant Banking, Comparative Banking, Bank Information Systems and E-banking, Bank Liquidity Management, International Business and Banking, Islamic Finance and Banking, Bank Credit Management, Bank Treasury Management, Central Banking Regulations and Supervision.

There are 77 insurance companies in the country. 46 of them are life and left 31 are general insurance or non-life insurance companies. Importance of insurance is growing every day due to the growing population and economic situations of Bangladesh.

Among them, Health Insurance, Crop Insurance, Marine Insurance, Products Insurance are important. Skilled human resources is needed for the both sector General and Life Insurance to handle the competition with the global economy and neighboring countries.
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