Dhaka, Nov. 28 -- Sadharan Bima Corporation (SBC) has requested the food directorate to resume purchasing insurance coverage from the state-run insurer, in line with legal requirements that mandate government entities to buy coverage from the corporation.

Officials said the appeal follows a long period during which the directorate has not sought insurance from the SBC, despite being a major importer of rice and wheat under government-to-government arrangements.

The insurer argues that bypassing the SBC has resulted in significant foreign currency outflows and contradicts provisions set out in the Insurance Corporation Act 2019.

In addition, the SBC has requested that all food import agreements include a clause stipulating that insuranc...