Full Breakdown
Job Recruitment Scams Erode Trust in Insurance and Employment Sectors
12/14/2025, 10:27:32 PM
Allegations Against Swadesh Islami Life Insurance
Eleven individuals have filed complaints against Swadesh Islami Life Insurance Company Limited, alleging that company officials coerced them into purchasing life insurance policies as a condition for employment. The complainants reported that they applied for jobs after responding to a recruitment advertisement on Bdjobs.com. Following interviews, they received appointment letters but were subsequently informed that they needed to open insurance policies with Swadesh Life to secure their positions. Collectively, they paid approximately Tk 30.99 lakh for these policies but were never allowed to join the company, nor have they received refunds.
The complaints were lodged with the Insurance Development and Regulatory Authority (Idra), the Ministry of Finance, and various police departments, including the Dhaka Metropolitan Police. One complainant, Abdul Mannan, has also filed a general diary with the Paltan Model Police Station and is preparing to escalate the matter to the Chief Metropolitan Magistrate Court in Dhaka due to a lack of police action.
Regulatory Response and Industry Concerns
In response to the allegations, Abdul Jabbar Kawser, acting CEO of Swadesh Islami Life Insurance, acknowledged that the sales process did not adhere to proper procedures. He stated that the company cannot legally refund the money since only one installment was deposited and that policies must remain active for at least 24 months to qualify for any surrender value. Kawser emphasized that the company would pursue legal action against the officials involved in the alleged misconduct.
Idra spokesperson Saifunnahar Sumi noted that the regulatory body lacks the authority to take legal action against anyone other than the insurer's advisers or executives. Legal experts, including Supreme Court lawyer Ishrat Hasan, have characterized the allegations as serious violations of law, highlighting that taking money from job applicants under false pretenses constitutes fraud.
Broader Implications for Trust in the Sector
Sector analysts have expressed concern that the lack of firm regulatory action will continue to undermine confidence in the insurance industry. Md Main Uddin, a professor at Dhaka University, remarked that some insurance companies operate under the assumption that Idra will not act against financial misconduct, which perpetuates scams like the one involving Swadesh Life.
Conflicting Reports & Gaps
While the complainants assert that they were misled and defrauded, the insurance company's leadership maintains that the transactions were not conducted through proper banking channels, complicating the issue of refunds. The situation remains fluid, with ongoing investigations and potential legal actions pending.
Verbatim Quotes
- “Taking money from job applicants on the promise of employment is fraud and deception, a punishable offence under the law, she said.” — Ishrat Hasan, Supreme Court Lawyer
- “Abdul Jabbar Kawser, acting chief executive officer of Swadesh Islami Life Insurance, said the way the accused officials sold policies to the complainants did not follow proper procedure.” — Abdul Jabbar Kawser, Acting CEO of Swadesh Islami Life Insurance
This case highlights the urgent need for regulatory reforms to protect consumers and restore trust in the insurance and employment sectors.
