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FAREASTLIF

All Eps Dividend Board Agm Q1 Q2 Q3

FAREASTLIF 08-Sep-2021

The Company has informed that as per letter of BSEC dated September 1, 2021, The Board of Directors of Fareast Islami Life Insurance Co. Ltd. reconstituted on September 05, 2021 with 10 Independent Directors where Dr. Md. Rahmat Ullah, (Professor and the Dean of the Faculty of Law, University of Dhaka) has been appointed as Chairman of the Board.

FAREASTLIF 31-Jan-2021

The Company has informed that Mrs. Farida Yeasmin, Sponsor of the company passed away on 01.05.2020. His total holding of 15,23,500 shares (Demat shares 13,73,500 and paper shares 1,50,000) in which Demat 13,73,500 shares will be transmitted to his successor Mr. Md. Shamsul Hoque (Husband) according to the Succession Certificate issued by the Honorable Court and Power of Attorney of the successors.

FAREASTLIF 24-Jan-2021

The Company has informed that it has disbursed the cash dividend for the year ended on December 31, 2019 to the respective shareholders.

FAREASTLIF 22-Nov-2020

Trading of the shares of the Company will resume on 23.11.2020 after record date.

FAREASTLIF 17-Nov-2020

Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle with cum benefit from 18.11.2020 to 19.11.2020. Trading of the shares of the Company will remain suspended on record date i.e., 22.11.2020.

FAREASTLIF 08-Nov-2020

(Continuation news of FAREASTLIF): Furthermore, we draw attention to note. 3.13 to the financial statements, which describes the various investments made to related parties. The company has obtained approval of such investment in the board meeting of the company. Our opinion is not modified in these regards. (end)

FAREASTLIF 08-Nov-2020

(Continuation news of FAREASTLIF): Furthermore, we draw attention to note no. 14.01 of the financial statements, which describes the recoverability of interest income and principal outstanding on bonds. The company has decided not to impair the investment in bonds of Banglalion Communications and PFI Securities in accordance in light of the legal opinion. (cont.6)

FAREASTLIF 08-Nov-2020

(Continuation news of FAREASTLIF): as disclosed in note no. 3.11.2 to the financial statements the management has decided to recognize the obligation of benefit plans on cash basis. Emphasis of Matter: We draw attention to the note no. 22.B of the financial statements which describes the recognition of fixed assets on fair value. The company has not recognized any depreciation on the revalued amount of fixed assets. (cont.5)

FAREASTLIF 08-Nov-2020

(Continuation news of FAREASTLIF): Society (PILICCS) (BDT 711.5 million) and Fareast Islami Life Insurance Company Cooperative Society (FILICCS) (BDT 1,011.4 million) currently included in the fixed assets in the note 22 of the financial statements as settlement of advances made to above entities. Employee Benefits: The company has not recognized appropriate provisions in accordance with IAS: 19: Employee Benefit for the its defined employee benefit plans, (cont.4)

FAREASTLIF 08-Nov-2020

(Continuation news of FAREASTLIF): Developments in note no. 17 of the financial statements, we could not verify the purpose of advances recorded in 2018 as an adjustment to investment carried Forward since long. Fixed Assets: We could not obtain sufficient and appropriate audit evidence regarding the origin of the advances made in the prior periods due to absence of necessary records to other entities namely Prime Islami Life Insurance Company Cooperative (cont.3)

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