LIC Office In Bangladesh To Remain Closed Till August 7 Amid Unrest

LIC Bangladesh: The turmoil has also impacted the financial markets, with LIC shares closing at Rs 1,110, down 6.10 per cent from the previous close on the BSE

LIC Bangladesh: LIC's decision comes in response to the ongoing violent clashes between security forces and anti-government protesters across the country.

Source : PTI

LIC Bangladesh: The public sector Life Insurance Corporation (LIC) announced on Monday that its office in Bangladesh will remain closed until August 7. This decision comes in response to the ongoing violent clashes between security forces and anti-government protesters across the country.

Reports from Dhaka indicate that over 100 people have been killed in the past two days due to the intense confrontations. The unrest began as student protests against a controversial job quota scheme but has since escalated into widespread anti-government demonstrations.

In a regulatory filing, LIC stated, "The office of LIC of Bangladesh Ltd will remain closed during the period from August 05, 2024, to August 07, 2024, due to the prevailing socio-political situation in Bangladesh."

Additionally, the government of Bangladesh has imposed a three-day curfew starting August 5 to quell the unrest, LIC noted.

The turmoil has also impacted the financial markets, with LIC shares closing at Rs 1,110, down 6.10 per cent from the previous close on the BSE.

Meanwhile, former Prime Minister Sheikh Hasina fled Bangladesh in a military aircraft and landed in India on Monday, as the army moved in to fill the resulting power vacuum. This development marks the end of one uncertain chapter and the beginning of another in the nation’s tumultuous history.

As news of Hasina’s departure spread, hundreds of protesters stormed her residence, vandalising and looting its interiors. These actions were a vivid expression of the anti-government protests that have claimed over 100 lives in the past two days. The protests were fueled by widespread discontent over the Hasina government’s controversial quota system, which reserves 30 per cent of jobs for families of veterans who fought in the 1971 liberation war.

In the midst of the chaos, volatile crowds took to the streets, with some demonstrators climbing onto the statue of Sheikh Mujibur Rahman, Hasina’s father and the founder of Bangladesh, and smashing it with hammers. This act served as a stark symbol of the fickleness of history.

Amidst this unrest, Army Chief General Waqar-uz-Zaman announced in a televised address that the 76-year-old prime minister had resigned. He stated that an interim government would take over, though there was intense speculation about Hasina’s destination.

Reports from Dhaka indicate that over 100 people have been killed in violent clashes between security forces and anti-government protesters over the past two days, underscoring the severity of the crisis in the neighboring country.