Dhaka, March 17 -- National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan has criticised life insurance company owners for treating depositor funds as their own, describing the situation as "terrible" and "dangerous".

Speaking at the NBR's pre-budget discussion at the Rajasya Bhaban in Dhaka's Agargaon on Monday, Abdur highlighted the sector's persistent governance issues, warning that many insurance executives lack the technical expertise required for responsible management.

"The biggest problem is that you do business without the necessary technical expertise, and there is no initiative to nurture it," he said.

Development partners have repeatedly urged Bangladesh to strengthen its insurance sector, but progress has been stymi...