WHY NIIL INSURANCE IS THE BEST
Northern Islami Insurance Ltd. is one of the leading general insurance company in Bangladesh.
The Company was incorporated on April 8, 1996 as public limited company under the companies act 1994 and licensed under Insurance Act, 1938 in order to run all types of general insurance business other than life insurance business. It obtained certificate of commencement of business on April 8, 1996 with an authorized and paid up capital of capital of Tk. 2500 million and Tk. 60 million respectively. It got registered with the Department of Insurance on 25 May 1996 with the prime maxim “A key to Protection”.
To operate insurance business on the basis of Islami Shariah, the required change including provision for formation of Shariah Council in the Memorandum of Association and Articles of Association had been approved in Extra Ordinary General Meeting held on 14/10/20219. Thereafter, the company obtained the required permission for operating business based on Islami Shariah and the change of company name from Northern General Insurance Co. Ltd. to Northern Islami Insurance Limited had been obtained from Insurance Development & Regulatory Authority (IDRA) & Registrar of Joint Stock Companies & Firms (RJSC). The Company formed Shariah Council and Stared its insurance business on Islami Shariah from December 2019.