Bangladesh, Sept. 15 -- Finance Minister Amir Khosru Mahmud Chowdhury has voiced concern over widespread mismanagement, corruption and regulatory failures in the insurance sector, warning that the industry faces problems similar to those that have plagued the banking sector.

Advertisement "The sector is unregulated, and one has reasons to raise questions about its future," he said at a press briefing after a meeting with officials of the Insurance Development and Regulatory Authority (IDRA) at its headquarters on Tuesday.

The minister expressed dismay over the large number of claims that remain unsettled by insurance companies. He said around 57 per cent of claims currently remain unsettled, representing the majority of the claims.

Mr...