Even after 36 years, the state-owned Jiban Bima Corporation (JBC) has not secured ownership of an 11-storey building and the associated plot at 80 Motijheel, Dhaka’s commercial heart. The property, once the headquarters of British firm Prudential Assurance Company, was transferred to JBC in 1989 through a power of attorney. However, the Dhaka Deputy Commissioner (DC) office maintains that the land remains government-owned.
Known as Prudential House, the building’s current market value is estimated at approximately BDT 80 crore, according to several architectural firms. Ownership disputes between two government bodies have persisted for decades.
Historical Background
Prudential Assurance established its headquarters in Bangladesh (then East Pakistan) in 1969, purchasing plot 80 Motijheel. Following Bangladesh’s independence in 1971, JBC managed Prudential’s operations until 1989. That year, Prudential formally transferred its entire business to JBC. The process, overseen by director Brian Medhurst and company secretary Peter Robert Rawson, was executed via a power of attorney dated 5 June 1989, effective from 1 January 1989.
At the time of transfer, Prudential held 638 insurance policies, including 100 premium-paying policies, 270 paid-up policies, and 268 policies under automatic premium loan arrangements. The company’s net liabilities as of 31 December 1987 stood at BDT 64 lakh, with assets including government bonds, debentures, and shares in Platinum Jubilee Jute Mills.
| Year / Item | Amount (BDT) | Notes |
|---|---|---|
| 1987 Net Liabilities | 6,400,000 | Prudential’s outstanding liabilities |
| 1988 Premium Income (Jan–Aug) | 90,000 | Total revenue approx. 7,30,000 BDT |
| Debenture in House Building Corporation | 1,83,20,000 | 5.5% interest |
| Government Loans (1973–79) | 35,00,000 | East Pakistan Government |
| Platinum Jubilee Jute Mills Shares | 2,08,330 | 20,833 shares at 10 BDT each |
| 1988 Building & Land Valuation | 1,20,00,000 | 4,000 sq ft per floor, 11 floors |
Ownership Dispute
On 31 October 2022, JBC applied to the DC office to register the property in its name, submitting all required documentation. Nearly a year later, on 16 October 2023, the office formally rejected the application. The DC office cited Revisional Survey and City Survey records—khatians 1, plots 1573 and 1425—listing the land as government-owned.
JBC maintains that it has occupied the property for over three decades and regularly pays land taxes, including land development taxes up to FY 2023–24, asserting it is the legal successor of Prudential.
The protracted legal complexity is partly due to the power of attorney being executed in London and never ratified by the Ministry of Foreign Affairs in Bangladesh. The DC office contends that long-term possession or tax payment alone cannot establish ownership when official records list the land under government authority.
Legal Implications
Experts describe this as a rare “government versus government” dispute. If administrative resolution fails, the matter is likely to be settled in court. Legal specialists note that the outcome could set precedents in public property management, land record accuracy, and institutional accountability.
Dhaka’s Additional Deputy Commissioner (Revenue), Md. Abdur Rafiqul Alam, stated: “Ownership lies with the party listed in official records. As this land is under Khatian No. 1, it is government khash land. JBC must resolve the matter through the courts.”