Farzana ChowdhuryManaging Director & CEO
Ms. Farzana Chowdhury, ACII (UK) is the Managing Director & Chief Executive Officer of Green Delta Insurance Company Limited (GDIC) – the only non-life insurance company with IFC World Bank equity investment in the country which has been awarded with the prestigious AAA rating for the 2nd year running.
Being the first female Managing Director and CEO in the financial sector of the country, her guiding philosophy has always been driven by the intent of adding value not just in business but in every sphere that touches her life. Accordingly for more than two decades, in a country where insurance is least penetrated at a time when it is needed the most, Ms. Farzana and her team have been able to work to bridge this gap by embracing transparent processes and forthright practices.
Having the most prestigious ACII after completing Masters from Monash University, Melbourne, Australia under AUS Aid scholarship, she introduced numerous successful integrated insurance models involving SME sector; micro health for the RMG workers and poor people through ‘Shudin’ and ‘Niramoy’; major remittance earners – migrant labors with ‘Probashi’; majority of the population – the female segment
Through ’Nibedita’ and the backbone of the country’s economy – the agriculture through Weather Index Insurance (WII).
As one of the 17 participants from across the globe, she was selected by the US State Department, for the International Women Leaders Mentoring Partnership program sponsored by US State Department and Fortune 500 companies in 2006. She has been key speakers in many national and international events including recently held International Conference on ‘Transformation Challenges and Opportunities for Bangladesh Garment Industry’ at Harvard University.
She was a key speaker in Bangladesh Roadshow UK 2015 organized by Board of Investments (BOI) in London. She also was a guest speaker at Global Index Insurance Conference 2015 organized by World Bank group’s Global Index Insurance facility (GIIF) in Paris.
Ms. Farzana has received overwhelming warmth and respect for her pioneering efforts in taking the cause of insurance forward. Under her leadership, GDIC has been felicitated by many prominent institutions like ARC, IFM, SAFA, ICAB, World Finance, ICSB and these awards have driven her to scale newer heights. She is also a member of the advisory council of the BRAC Business School, BRAC University.
Customer-centricity has been the hallmark of the operations of the institutions that Ms. Farzana has worked for and she has remained a key catalyst in creating a more customer- oriented enterprise like Professional Advancement Bangladesh Ltd and GD Assist Ltd – two new subsidiaries of GDIC.
Ms. Chowdhury is a member of the advisory council of Talent Nomics India. Talent Nomics is a not for profit organization focused on the issues of ender party in leadership and pay. It aims to strengthen the pipeline of women leaders across sectors and regions.
Recently another feather was added to her glittering career. She was awarded with the prestigious Chartered Insurer Status by the Chartered Insurance Institute (CII) UK. According to CII, this is the gold standard for insurance professionals and a very few professionals in Bangladesh have this distinction.
With her leadership Ms. Farzana has been relentlessly working to bring forth a positive change in the industry by introducing the concept of ‘Insurance for Everyone’.
Nasiruddin Ahmad ChoudhuryAdvisor
By virtue of an experience of more than half a century in the insurance sector, Mr. Nasiruddin Ahmad Choudhury has pioneered the insurance industry of Bangladesh. He completed his Bachelor’s degree from Anando Mohon College, Mymensingh, and Master’s degree in Islamic History from Dhaka University, Bangladesh. He is vastly experienced in the field of insurance and is widely respected in the insurance industry and business circles, both locally and globally. Mr Choudhury joined the Pakistan Insurance Corporation in September, 1958, and held various senior positions till the liberation of Bangladesh. In 1972, immediately after the year Bangladesh was liberated, he took the responsibility of rebuilding
the reinsurance department of the SadharanBima Corporation as a General Manager. Having achieved his objectives, he left in 1983. He was also an Insurance Adviser of Bangladesh Biman and Bangladesh Shipping Corporation for over 15 years. A former Chairman of the Bangladesh Insurance Association (2001-2004), Mr Choudhury established Green Delta Insurance Company Limited with some friends in 1985 as a sponsor and founder Managing Director and CEO. Till date, he is discharging his responsibility as an Advisor. Throughout his glorious career, Mr Choudhury has been awarded by many renowned national and international organizations for his unparalleled contributions to the insurance industry of Bangladesh.
A. S. A. MuizSenior Consultant
Mr. Muiz is a Senior consultant at Green Delta Insurance ( since 2013) and enjoys an entrenched presence in the field of Insurance for over four decades. After his graduation from Dhaka University , he started his insurance career at erstwhile Great Eastern Insurance Co. Ltd in 1969 as a probationary officer. He joined the Sadharan Bima Corporation after the war of liberation as an Assistant Manager in 1973 and went abroad for higher training and exposure and in the process got associated with large insurance organizations like Lloyds and attended Chartered Insurance College , London. He also received training on Munich Re, Germany , Swiss Re, Switzerland and Paris , France.
Upon his return after completion of his training abroad , Mr. Muiz joined Sadharan Bima Corp. and continued working at SBC holding various important and significant post till his voluntary retirement in 1997 as a Deputy General Manager. He then joined Green Delta Insurance as Director, Marketing, in 2001. Until becoming consultant he was Additional Managing Director of Green Delta in charge of HR, Marketing , Underwriting and Branch control and afterward served as Advisor to the Green Delta Insurance.
Golam MustafaSr. Additional Managing Director
On retirement from Sadharan Bima Corporation in January, 2001 Mr. Golam Mustafa joined Green Delta Insurance Co. Ltd. as Additional Managing Director on July, 2001 with assignment of Reinsurance, Claims and Specialized Underwriting. In 2015 his designation was upgraded to the post of Sr. Addl. Managing Director.
He started his career as a Trainee Officer/Assistant Departmental Officer with the then Pakistan Insurance Corporation in January 1965. In March 1969 he was promoted to the post of Departmental Officer.
After liberation, he was absorbed with Bangladesh Insurance Corporation and subsequently with SBC. In February 1977, he was transferred to Reinsurance Division as Deputy Manager and assigned the job of Aviation and Engineering insurance and reinsurance affairs. In April 1980, he was promoted to the post of Manager, AGM in 1986, DGM in 1989 and General Manager in 1994. From 1977 till his retirement in 2001, he was directly handling Aviation, Engineering insurance and all types of Reinsurance affairs of SBC.
He visited London, Paris, Munich, Zurichevery year from 1984 for renewal negotiation of Aviation
Insurance of Biman fleet of aircraft and Annual Reinsurance Treaties of SBC with Lloyds’ underwriters and other renowned reinsuring underwriters.
He is a Commerce graduate with Honours in Accountancy and attended 8 weeks training course in Engineering insurance and reinsurance organised by Munich Re, 10 weeks training course on Reinsurance in London, 4 weeks training course in Aviation insurance and reinsurance organised by Chartered Insurance Institute, London and C.T. Bowring Aviation Ltd., London in 1986. He traveled many countries of Asia/Africa to participate Seminars, Conference and Workshops relating to insurance and reinsurance.
A.K.M. Iftekhar Ahmad
A.K.M. Iftekhar Ahmad is a carrier insurer. After obtaining graduation from Dhaka University he joined the eastern Head Office of erstwhile Muslim Insurance Co. Ltd. on 8 January 1969. Thereafter he joined erstwhile Janata Insurance Co. fully owned by Bengali entrepreneurs in September 1970 as Asstt. Manager. After liberation the Insurance Industry was nationalized. He was absorbed in Sadharan Bima Corporation as Asstt. Manager in 1973. He held important positions in Underwriting, Claims, Branch and other departments till 1996 when he voluntarily
retired to join the private sector. In Private Sector he was the CEO of Eastern Insurance Co. Ltd. from 1998 to 2009 and CEO of Sonarbangla Insurance Co. Ltd from 2010 to 2012. He retired from Sonarbangla on attaining the age of superannuation ie. 67 years. Thereafter he joined Insurance Development and Regulatory Authority (IDRA) in July 2013 as Senior Consultant and worked
there till June 2016. He was also Member Secretary of Central Rating committee, During his tenure Money Insurance Policy (MIP) was designed by the secretariat and approved by the Authority. He also piloted many new products for non-life insurance
viz: Nibedita Comprehensive Insurance for Women, GD Health Insurance, Prime Health Insurance Hajj & Umrah Insurance, Niramay Micro Health Insurance, Weather Index Crop Insurance, Mass Health Insurance, Probashi Insurance for migrant workers, through Central Rating Committee and approved by IDRA. He received extensive training on insurance in home and abroad at various stages of his carrier. He was a member of Central Rating Committee from 2000 to 2012 and also Chairman of Misc Rating Sub-Committee for one term. He played an active role in product design and pricing of non-life Insurance. He was an elected member of the Executive Committee of Bangladesh Insurance Association from 2002 to 2008 and played vital role in shaping the industry.
Nazim Tazik ChowdhuryAddl. Managing Director (HR & CFO)
Mr Chowdhury started his career in 1972 with the Janata Insurance Co. Ltd and in the same year, he was absorbed in the Sadharan Bima Corporation and served till 1985. He has been in the field of insurance for well over three decades. Mr Chowdhury joined Green Delta Insurance Co. Ltd as an Accounts Executive in 1986 and was subsequently redesignated as Deputy Managing Director in 2008. He continues looking after important departments of the Company such as finance and accounts and human resources.
Syed Moinuddin AhmedAddl. Managing Director & Company Secretary
Spanning more than 20 years, Mr. Ahmed possesses an extensive career in the banking and finance industry. Majoring in Finance from the University of Dhaka, he started his career at Southeast Bank where he was responsible for the credit-related activities of the bank. Starting his career as a management trainee, Mr Ahmed worked in various roles with several reputed commercial banks in Bangladesh for significant periods of his career prior to joining the GDIC Group in2009 and subsequently taking over the role as an Additional Managing Director and Company Secretary.
Mr. Ahmed’s core competence have been the highlight of his career at Green Delta Insurance, including board affairs, business development, business process optimization, structuring of credit facilities, studying the capital markets, managing strategic alliances, HR supervision and project management that have collectively ensured strong and consistent growth for the Company over the years. Moreover, his knowledge and experience in conceiving, developing, strategizing and implementing the SME finance model at BRAC Bank has ensured proper insurance coverage for such enterprises, which continue to contribute to the economic development of the country. Overall, his experience and vision have been a source of inspiration for the team.
During his long career, Mr. Ahmed has participated in a number of workshops that have enabled him to gain a more holistic and globalised viewpoint and inspired him to attain greater heights.
Nazrul IslamDeputy Managing Director (UMD)
Mr. Islam is a Deputy Managing Director and is currently discharging his responsibilities as the Head of the Claims and Underwriting Management Department. Mr Islam is a veteran insurance Officer, working at Green Delta Insurance since its inception in 1986. Prior to joining the Company, he has worked in many European countries, including seven years in Germany. He started his insurance carrier with the Sadharan Bima Corporation, the only government non-life insurance company in Bangladesh.
As one of the best insurance underwriters of the country, he enriched his skills, experience and knowledge. He has discharged efficient services of the company in various capacities in different department branches.
Mr Islam enjoys tremendous experience in the insurance field and has actively participated in various seminars and symposiums at home and abroad.
Md. T H ForhadDeputy Managing Director (Corporate Mkt.)
Mr. Forhad started his career in 1986 as a trainee executive in the Accounts Department and, over the years, has been discharging responsibilities under various capacities. Mr. Forhad possesses rich knowledge and experience of insurance and has participated actively in various seminars and symposiums at home and abroad, including countries like Sri Lanka and Malaysia. Mr. Forhad is currently a Senior Executive Director. He is also a life member of the Noakhali Zila Somity, Founder President of the Lions Club of Bonoful Delta and is the Regional Chairperson of the Lions Club International 315 B2. His work has taken him to several countries including Australia, the UK, the Kingdom of Saudi Arabia, India, Malaysia, Thailand and Singapore.
Syed Kaiser AhmedDeputy Managing Director (Mkt.)
Mr Kaiser Ahmed completed his B.A. (Honors) in Political Science in 1973, M.A. in Public Administration in 1974 and L.L.B. from the Central Law College (under the Dhaka University). He started his career in 1977 and worked for several well- established companies like the New Dhamai Tea Estates Ltd, High Speed Shipbuilding and Heavy Engineering Co. Ltd and Asaf- Tex Ltd, till 1999. He is a life fellow of the Bangladesh Society for Human Resource Management.
Mr Ahmed joined Green Delta Insurance in 2000 and was holding the post of Senior Executive Director, Human Resources and Administration, till January 2014. He is currently holding the position of Deputy Managing Director (Marketing).
Wafi Shafique Menhaz KhanDeputy Managing Director (GDIC) and CEO (GDSL)
Mr. Wafi Shafique Menhaz Khan is the Chief Executive Officer of Green Delta Securities Limited, one of the few renowned brokerage houses of Bangladesh. He is also the Deputy Managing Director of Green Delta Insurance and is currently heading Retail & SME and Corporate Communication departments. Prior to join Green Delta, he was the Vice-President and Head of Non- funded Business at The City Bank Limited. Mr. Khan has extensive experience in the banking industry and set benchmarks for others to pursue. He started his glorious career from ANZ Grindlays Bank and gradually earned diversified experience while working with BRAC Bank Limited, American Express Bank Ltd. and The City Bank Ltd. He was directly involved with the launching of numerous retail, card and loan products. Throughout his career, he has been assessed as a result oriented & strong team player, activator and developer. He has taken up several successful training and workshops held locally and globally on career management & leadership. He has attended various international conferences held in USA, UK, Dubai, Singapore, Thailand, India and China
Md. Rafiqul IslamDeputy Managing Director (GDIC) and Managing Director & CEO (GDCL)
Md. Rafiqul Islam, Managing Director & CEO of Green Delta Capital Limited, prior to join this position, he was the Chief Investment Officer of the company. Mr. Islam specializes in providing Investment Banking, Corporate Finance and Corporate Treasury. His extensive professional experience encompasses both in Debt and Equity Capital Markets products where he comprises in many transactions for raising debt &equity funds including Foreign & local Syndication and IPO in various sectors such as Infrastructure, Power, Energy, Financial, Agro, Textile, Telecom, Manufacturing, FMCG and Food processing sectors. Mr. Islam also specialize in Private Equity and M&A transactions, Structuring PE & M&A deals.
With over 13 years of professional experience, Mr. Islam has built a successful track record of consistent sustainable value creation in the field of Investment Banking and Corporate Finance with raising funds from domestic and foreign markets for both debt and equity.
Mr. Islam beginning his career with a major conglomerate in Bangladesh in 2002 moved to Orascom Telecom. Mr. Islam was also with BRAC EPL Investments Limited as Associate Director & Head of Structured Finance.
Mr. Islam completed Master of Commerce in Accounting and he has also completed MBA in Finance from East West University, Bangladesh. Also he is the Associate Member of CPA Australia.
Kabir Ahmed ChowdhurySr. Executive Director & Head of Audit and Compliance
Kabir A. Chowdhury, Sr. ED, Head of Internal Audit & Compliance has completed his 30 years of Insurance career. After completion of his Master Degree in Accounting & Finance from Chittagong University he joined with BGIC in October 1985. He has work experience in Marketing, Underwriting, Accounts and other administrative works in different departments. He started with Green Delta in 1986 as a founder Manager of Comilla Branch. Later he opened another branch at Eliphant Road, Mohakhali. Prior to joining the Internal Audit he was the In-charge of Principal Branch, Dhaka for more than 5 years. He participated insurance related courses and seminars arranged by the insurance related institutions in home and abroad.
Md. Mahfuzar Rahman SiddiqueDirector (Admin & PR)
On completion of M.A. in Political Science from Dhaka University, he joined in the service of GOB in 1976. Retired in 2010 as Director of Immigration of Passports. For around a year, he held current charge of Director General,Immigration & Passports. While in Govt. service he attended training session at home and abroad, was a member of several Government delegations in and outside Bangladesh. Served as guest Speaker of Foreign Service Training Academy of Ministry of Foreign Affairs from 1996 to 2009.
Since early nineties he is actively associated with Sports. As an organizer he was an EC Member of Bangladesh Cricket Board, Table Tennis Federation, Boxing Federation. He also served as member of Discipline Committee of BCB. Currently he is Vice President of BAF and BWF and Vice Chairman of Discipline Committee of Bangladesh Football Federation. Served as Election Commissioner of BFF and Mohamedan Sporting Club, Dhaka. He is a National Course Director of NOC Bangladesh since 2000. Worked as Consultant of Bangladesh Olympic Association to organize Library, Archive, Museum& National Olympic Academy.