Tension and chaos broke out at the Rangpur zonal office of Fareast Islami Life Insurance Company Limited after allegations that officials attempted to flee while selling office property instead of settling billions of taka in insurance claims. Upon hearing the news, angry policyholders rushed to the office and confined the officials. They later blocked the city’s main road in protest.
The protest continued until 3:30 PM on Sunday, October 26. Earlier, on Saturday night, locals intercepted a truck attempting to move office property. Witnesses said suspicion arose when some staff tried to remove expensive furniture and equipment late at night.
Approximately 30,000 policyholders in the Rangpur division have pending claims exceeding 121 crore taka. According to divisional records, from 2021 to 2024, 29,596 clients had matured policies with over 120.97 crore taka unpaid, despite regulations requiring payment within 90 days.
Policyholders voiced frustration. Aklima Begum from Checkpost Bhogibala said, “My husband has passed away. I worked hard to save this money. Despite two years passing, I haven’t received my claims. We want our hard-earned money back.”
Fareast Islami Life SVP Abdul Kader Bir explained, “We were relocating old furniture to a new office. Misunderstanding led to the unrest. We have sufficient assets, which will be sold to settle all claims.”
Rangpur Additional Deputy Commissioner Ramiz Alam confirmed approximately 70,000 clients with 137 crore taka in pending claims fall under the office. Authorities are working to resolve the matter promptly and peacefully, ensuring no office assets are sold improperly.