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Chronology

Registration as a Joint Stock Company ...... January 30, 2000

Commencement of Business ...... April 11, 2000

Contents Signing of contract with the world’s largest reinsurer, Chronology ...... 01 Munich Re, Germany for reinsurance coverage ...... April 17, 2000

Message from the Chairman ...... 02 Signing of first policy ...... May 03, 2000 Board of Directors ...... 04 Inauguration of official website ...... July 01, 2001 Vision, Mission and Obectives ...... 06 Corporate Management ...... 08 Appointment of Issue Manager ...... December 22, 2004

Notice of the 9th Annual General Meeting ...... 10 Agreement with CDBL ...... September 25, 2005 New Business and Business in Force ...... 11 Consent to issue IPO shares ...... October 16, 2005 Financial Highlights ...... 12 Directors Report ...... 13 Publication of Prospectus ...... October 19, 2005 Auditors’ Report ...... 35 Subscription Opens ...... November 24, 2005 Finincial Statements ...... 37 Allotment of IPO Shares ...... December 28, 2005 Balance Sheet ...... 38 Revenue Account ...... 40 Listing in Dhaka Stock Exchange ...... February 06, 2006 Form - “AA” ...... 43 Listing in Chittagong Stock Exchange ...... February 06, 2006 Statement of Life Insurance Fund ...... 44 First Trading in Stock Exchanges ...... February 06, 2006 Statement of Cash Flow ...... 45

Notes to the Financial Statements ...... 46 Holding the first public AGM (6th) ...... September 17, 2006 Certificate Under the Insurance Act, 1938 ...... 60 Introduction of first ever Push-Pull service for Pragati Life Events ...... 61 policyholders’ information ...... March 01, 2007 Important Offices ...... 67 Declaration of first policy bonus ...... January 29, 2007 Map ...... 84 Proxy Form & Attendance Slip ...... 85 First Credit Rating ...... January 30, 2008

Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 01 TRUST US FOR LIFE TRUST US FOR LIFE

Message from the Chairman ßY~JroqJPjr mJeL

Dear Shareholders, Kk´~ ßv~JrPyJøJrmOª, Assalamu Alaikum, IJxxJuJoMIJuJATáo, I have the pleasure to warmly welcome you on the occasion of IJKo Ifq∂ IJjPªr xJPg k´VKf uJAl A¿MqPr¿ KuKoPac Fr the 9th Annual General Meeting of Pragati Life Insurance Limited kKrYJuTo¥uLr kã yPf ßTJŒJjLr 9o mJKwtT xJiJre xnJ~ on behalf of the Members of Board of Directors. We are delighted IJkjJPhr ˝JVf \JjJKóZÇ dJTJ yPf 120 KT: Ko: hNrPfô poMjJ KrPxJat and impressed at your presence at the Annual General Meeting KuKoPac F IJkjJPhr CkK˙Kf uãq TPr IJorJ Ifq∂ IJjKªf S at Jamuna Resort Ltd. 120 km. away from Dhaka. It is the C&xJKyfÇ FPf ßTJŒJjLr k´Kf IJkjJPhr VnLr IJ˙J kKruKãf y~Ç manifestation of your confidence on the Company. Thanks to all. F\jq xmJAPT ijqmJhÇ Meanwhile, Annual Report of the Company has already been despatched to you. All of us are aware of the fact that global APfJoPiq ßTJŒJjLr mJKwtT KrPkJat IJkjJPhr KjTa ßkRÅPZ ßhS~J economics falls in 2008 took a heavy toll on our economy. On the yP~PZÇ IJorJ xmJA ImVf ßp, 2008 xJPur Kmvõ IgtQjKfT i±x other hand, there was an unprecedented price hike of essential IJoJPhr ßhPvr IgtjLKfr mqJkT ãKfxJij TPrPZÇ IkrKhPT commodities in the year 2008. Despite those impediments, the IJoJPhr ‰hjKªj mqmyJpt kPeqr oNuq 2008 xJPu I˝JnJKmTnJPm Company has maintained and achieved strong position in all mOK≠ ßkP~PZÇ Ff k´KfmºTfJr oPiqS ßTJŒJKj xMÔ mqm˙JkjJ, major areas covering sound management, adequate earning and xP∂Jw\jT I\tj S xMhO| fJruq xy xTu ßãP© FTKa vÜ Im˙Jj strong liquidity in the year 2008. iPr rJUPf xão yP~PZÇ I believe the Directors’ Report will offer a comprehensive view to you to enable you to assess the financial position of the IJKo KmvõJx TKr, kKrYJujJ kwtPhr k´KfPmhPjr oJiqPo IJkjJrJ Company. I assure you that we shall always stand beside you and Ifq∂ xyP\ ßTJŒJjLr IgtQjKfT Im˙Jj KmYJr TrPf kJrPmjÇ your investment will always be secured. The performance of the IJKo IJkjJPhr IJvõJx KhKóZ ßp, IJorJ xmxo~ IJkjJPhr kJPv business operation during the year under review was ßgPT IJkjJPhr KmKjP~JV xhJ xÄrãe TrPmJÇ xJrJ mZr \MPz satisfactory. kptPmãe k´JÑJKuj mqmxJK~T TJptâo KZu xP∂Jw\jTÇ A brief result of the overall performance of the Company during KjPY 2008 xJPu ßTJŒJjLr xJoKV´T TJptTuJPkr FTKa xÄK㬠the year 2008 in comparison with the year 2007 is given here as luJlu 2007 xJPur xJPg fáujJoNuT IJPuJYjJ~ ßhUJPjJ yP~PZÇ under. • • Total income of the Company was Tk.896.19 million as against ßTJŒJjLr xJoKV´T IJ~ y~ 896.19 KoKu~j aJTJ pJ kNmtmftL Tk. 678.16 million in the preceding year, being an increase of mZPrr 678.16 KoKu~j aJTJr fáujJ~ 32.15% IKiTÇ 32.15%. • 2008 xJPur mqm˙JkjJ mq~ yP~PZ 461.34 KoKu~j aJTJ, pJ KTjJ • Management expenses for the year 2008 were Tk.461.34 2007 xJPur 308.67 KoKu~j aJTJr fáujJ~ 49.46% IKiTÇ million as compared to Tk. 308.67 million in 2007, showing an FA mq~ mOK≠r TJre KmKnjú k´vJxKjT mq~ mOK≠ ßpoj: IKlx nJzJ, increase of 49.46%. The reasons for increase in the VJzLr \ôJuJjL S ßorJof, ßaKuPlJj, lqJé, A≤JrPja, mqmxJK~T management expenses were mainly due to increase in various Cjú~j UrY AfqJKhÇ administrative expenses such as office rent, car fuel, maintenance & repairs, telephone, fax internet, business • 2008 xJPu kKuKx V´JyTPhrPT k´h• IPgtr kKroJe 132.90 development expenses etc. KoKu~j aJTJ, pJ KTjJ Vf mZPrr 101.97 KoKu~j aJTJr fáujJ~ • Payments to policyholders in the year 2008 was Tk. 132.90 30.34% IKiTÇ FA UJPf k´h• IPgtr kKroJe mOK≠ kJmJr TJre million as against Tk.101.97 million in the year 2007, being an yPóZ oOfáqhJmL, kKuKxxoNPyr ßo~JhkNKft FmÄ k´fqJKvf xMKmiJr Igt increase of 30.34%. Claims were mainly increased due to k´hJjÇ maturity of old policies and survival benefit payments. • 2008 xJPu KmKjP~JV IJP~r kKroJe 166.97 KoKu~j aJTJ pJ • The investment income in the year 2008 was Tk. 166.97 million KTjJ Vf mZPrr 113.53 KoKu~j aJTJr fáujJ~ 47.07% IKiTÇ as compared to Tk. 113.53 million in the year 2007, showing an increase of 47.07%. The main reason for increase in the ATáqAKa ßv~Jr KmâP~ IKiTfr uJPnr TJrPe KmKjP~JV IJP~r investment income was due to higher profit on sale of listed kKroJe mOK≠ ßkP~PZÇ equity shares. IJKo IJ∂KrTnJPm ijqmJh \JjJA ßp, IJoJPhr xTu ßv~Jr V´JyT, I would like to express my profound gratitude to all our kKuKx V´JyT FmÄ ÊnJgLtPhrÇ FZJzJS, ßmJPct IJoJr xyToLtVPer shareholders, policyholders and well-wishers. I am also grateful k´Kf IJKo IJ∂KrTnJPm Tífù fJPhr oNuqmJj CkPhv FmÄ Message from to my colleagues in the Board for their prudent advice and Kj~KofnJPm xyPpJKVfJ k´hJPjr \jqÇ the Chairman constant support they have provided me.

Syed M. Altaf Hussain ‰x~h Fo. IJufJl ßyJxJAj Chairman ßY~JroqJj

Pragati Life Insurance Ltd. Annual Report 03 TRUST US FOR LIFE TRUST US FOR LIFE

Board of Directors’

Mr. A.K.M. Rafiqul Islam, FCA Mr. Tabith M. Awal Mr. Zakaria Taher

Syed M. Altaf Hussain Chairman

Mr. Salim Rahman Mr. Mabroor Hossain Mr. Md. Shafiur Rahman

Mr. Tafsir M. Awal Mr. Md. Fazlur Rahman Mr. Khalequzzaman Chowdhuri Mr. A. S.M. Mohiuddin Monem Vice Chairman

Mrs. Nelofer Kamal Mrs. Nigar Jahan Chowdhury Mr. Imam Shahed Hossain

Mr. Abdul Awal Mintoo

Prof. Parveen Lucy

04 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 05 TRUST US FOR LIFE TRUST US FOR LIFE

Objectives Our objectives are to conduct transparent business operation based on market mechanism within the legal & social framework with aims to attain the mission reflected by our vision. Philosophy Our philosophy is best described as maintaining competitiveness balance with prudent management and fairness to all our policyholders’. We believe in adhering to basic principles of insurance and financial management while balancing the scales between safety of principle and competitive rate of return to our policyholders’.

Vision Mission We shall be recognized as the leader Our mission is to produce and among all life insurance companies in provide quality and innovative Bangladesh. insurance product. Our success will be built on our absolute Maintain stringently ethical dedication to the satisfaction of our standard in business operation. policyholders, through constant Ensuring benefit to the innovation, operational efficiency, policyholders, shareholders and the Dedication to Service prompt services, cost effectiveness and society at large. the talents of our people. We are dedicated to provide innovative products, specially designed to meet our We shall always apply high standards of objectives while furnishing you with integrity and responsibility in our safety, liquidity and a competitive rate of activities. return at present and in the future. Corporate Focus Pragati LIfe and its representatives are Our vision, our mission and our not only committed to providing you objectives are to emphasize on the with quality products, we are here to quality of product, process and services serve you even after the sale. We are leading on growth of the company never far away than your telephone. imbibed with good governance practices.

06 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 07 Corporate Management

Managing Director Deputy Managing Director Senior General Manager Senior Principal Officer Principal Officer Manager Zafar Halim Swapan Kumar Sarkar, FCA A.K.M. Mozammel Hossain Belal Zahur Ahmed Choudhury Choudhury Abdul Majid Mir Md. Shafiul Alam Kamol Quamrul Hasan Rafiqul Alam Bhuiyan K.M. Tanvir Ashraf Arkam Raquib Chowdhury Additional Managing Director Deputy General Manager K.A.S.M. Azam Ullah Tipu Sajadul Haque Liaquat Ali Habibur Rahaman Sikder Assistant Managing Director Md. Mozammel Hossain Abu Bakar Siddique M. M. Monirul Alam Senior Manager Md. Abdullah Chowdhury Legal Adviser Majedur Rashid Choudhury Ruhul Ameen Abul Hashem Advocate Bangladesh Supreme Court

Sajadul Haque Head of HR K.M. Tanvir Ashraf A.K.M. Mozammel Hossain Belal Head of IT Head of IPL Md. Mozammel Hossain Company Secretary K.A.S.M. Azam Ullah Tipu Abu Bakar Siddique Head of PBD & PIBD Head of IDPS

Zafar Halim Managing Director Swapan Kumar Sarkar, FCA M. M. Monirul Alam Quamrul Hasan Assistant Managing Director Habibur Rahaman Sikder Deputy Manaing Director Head of Finance, Accounts & Admin Deputy Manaing Director Head of Group Life & Health Additional Managing Director Head of Metro Wing Reinsurance & Pragati Urban Division TRUST US FOR LIFE TRUST US FOR LIFE

Comparative Statement of New Business and Business Inforce

Pragati Life Insurance Limtied INDIVIDUAL PRODUCT LINE (IPL) Head Office: Pragati RPR Center (6th Floor), 20-21 Kawran Bazar, Dhaka 1215 New business Business in force Sum No. of First Year Sum No. of Year Assured policies Premium Assured policies 2008 1,715.92 23,096 141.06 2,898.83 36,102 2007 1,107.36 13,261 85.10 1,991.15 27,217 NOTICE OF THE 9TH ANNUAL GENERAL MEETING ISLAMI JIBON BIMA (TAKAFUL)

Notice is hereby given that the 9th Annual General Meeting of Pragati Life Insurance Limited will be held on Sunday, 27 New business Business in force September 2009 at 12:00 noon at the Jamuna Resort Ltd., Bhuapur, Tangail to transact the following business: Sum No. of First Year Sum No. of Year Assured policies Premium Assured policies AGENDA 2008 487.37 5,447 37.81 290.80 2,623 1. To receive, consider and adopt the Directors’ Report for the year ended 31st December, 2008. 2007 337.48 3,879 26.21 24.41 353 2. To receive, consider and adopt the Audited Accounts of the Company and the Auditors’ Report thereon for the year ended 31st December, 2008. 3. To declare Dividend for the year 2008 as recommended by the Board of Directors. PRAGATI BIMA (PB) 4. To elect Directors in accordance with the provisions of the Articles of Association of the Company. New business Business in force 5. To appoint Auditors for the year 2009 and fix their remuneration. Sum No. of First Year Sum No. of Year Assured policies Premium Assured policies 2008 900.24 35,024 69.68 1,902.92 76,820 By order of the Board of Directors 2007 659.26 26,057 44.99 1,786.39 73,901

(Mozammel Hossain) PRAGATI ISLAMI BIMA (PIB) Dated Dhaka, 16 August, 2009 (Company Secretory) New business Business in force Sum No. of First Year Sum No. of Year NOTES: Assured policies Premium Assured policies (a) The record date : 19 August, 2009. 2008 368.89 14,721 28.67 496.07 19,806 (b) Members of the Company whose name appear in the Register of members upto the record date will be entitled 2007 231.13 9,257 14.20 344.66 14,107 to attend the AGM and dividend for the year 2008. (c) A member wishing to appoint a Proxy, must deposit the Proxy Form duly stamped to the Company’s Registered ISLAMI DEPOSIT PENSION SCHEME (IDPS) Office at least 72 hours before the meeting. New business Business in force (d) Only the shareholders or their appointed proxies can attend the meeting. A proxy must be a member of the Sum No. of First Year Sum No. of Year Company. Assured policies Premium Assured policies (e) Entry to the Annual General Meeting is reserved only for the shareholders or his/her Proxy. No guests & children 2008 751.57 26,815 31.97 1,142.33 51,829.00 shall be allowed entrance in the meeting. 2007 370.83 14,556 26.79 390.75 25,014.00

KmPvw hsÓmq: xÿJKjf ßv~JrPyJøJrmOª pJyJrJ poMjJ KrPxJPat IjMKÔfmq ßTJŒJjLr 9o mJKwtT xJiJre xnJ~ ßpJVhJPj AóZáT fJyJPhr GROUP LIFE AND HEALTH pJfJ~JPfr mqm˙Jr \jq IJVJoL 6 ßxP¡Ír yAPf 10 ßxP¡Ír 2009 fJKrPUr oPiq fJyJPhr jJo IjMV´ykNmtT ßTJŒJjLr k´iJj New business Business in force TJptJuP~r ßv~Jr KmnJPV ßrK\KÓs TrJr \jq IjMPrJi \JjJj pJAPfPZÇ IjqgJ~ fJyJPhr pJfJ~JPfr mqm˙J TrJ x÷m yAPm jJÇ Sum No. of Annual First Year Sum No. of No. of Year Assured policies Premium Premium Assured policies Lives 2008 1,299.45 26 10.85 7,001 12,539.59 77,205 178 2007 3,338.59 40 16.67 9,687 14,635.16 87,506 182

Amount in million

10 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 11 TRUST US FOR LIFE TRUST US FOR LIFE

FINANCIAL HIGHLIGHTS 5 YEARS’ KEY OPERATING AND FINANCIAL DATA

Taka in '000

Year 2008 2007 2006 2005 2004

First Year Premium 322,521 201,008 261,253 158,221 86,590 Renewal Premium 303,806 268,891 222,521 135,145 100,305 Group Insurance Premium 59,884 61,050 44,350 32,969 32,229 Health Insurance Premium 50,257 37,411 30,702 22,202 16,556 Gross Premium 736,468 568,359 558,827 348,537 235,680

% Increase over the previous year 29.58 1.71 60.33 47.89 25.80 Overall conservation Ratio (%) 64.65 55.58 75.85 72.31 69.69 Investment Income 166971 113,534 36,207 24,130 8,117 Investment Yield (Income realised to mean Life Fund) 19.80 18.65 9.16 10.90 5.57 Claim 132901 101,967 74,380 77,116 45,414 Management Expenses-Actual 461341 308,674 269,382 179,957 119,928 Assets(Excluding excess IPO deposit money) 1251247 956,969 746,296 458,053 256,516 % Increase over the previous year 30.75 28.18 63.11 78.56 43.37 Life fund 1058861 794,664 536,141 290,392 176,505 % Increase over the previous year 33.25 48.22 84.63 64.52 73.35 Ratio of --- Expenses of Management to Premium Income(%) 62.64 54.30 48.20 51.63 50.89 Claim to premium(%) 18.05 17.94 13.31 22.13 19.27

12 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 35 TRUST US FOR LIFE TRUST US FOR LIFE

Directors’ Report kKrYJuTo¥uLr k´KfPmhj FINANCIAL RESULTS Taka in Million Bismillahir Rahmanir Rahim KmxKouäJKyr rJyoJKjr rJyLo Products 2008 2007 Increase/ Respected Shareholders, xÿJKjf ßv~JrPyJøJrVe, (Decrease) % Assalamualaikum, IJxxJuJoMIJuJATáo, First Year Premium It is an immense pleasure and privilege to welcome you k´VKf uJAl A¿MqPr¿ KuKoPac Fr 9o mJKwtT xJiJre xnJ~ Individual Product Line 141.06 85.10 65.76 to the 9th Annual General Meeting of Pragati Life IJkjJPhrPT kKrYJujJ kwtPhr kã yPf ˝JVf \JjJPf ßkPr Pragatibima Division 69.68 44.99 54.88 Insurance Limited (PLIL). I, on behalf of the Board of Pragati Islamibima Division 28.66 14.72 94.70 Directors feel honored to be able to present before you IJKo Ifq∂ IJjKªf FmÄ xÿJKjf ßmJi TrKZÇ KcPxÍr 31, Islami Jibon Bima (Takaful) 37.80 26.20 44.27 the 9th Annual Report together with the Audited 2008 IJKgtT xoJK¬ mZPr 9o mJKwtT ksKfPmhj KjrLKãf Islami Deposit Pension Scheme 45.30 29.99 51.05 Accounts of the Company for the year ended 31st KyxJm FmÄ KjrLãTPhr k´KfPmhj Ck˙JkjJr xMPpJV uJn Sub Total 322.50 201.00 60.46 December, 2008 and the Auditors’ Report thereon. TrPf ßkPr IJKo KmPvwnJPm Vmt ßmJi TrKZÇ Renewal Premium Individual Product Line 134.90 150.12 (10.14) BUSINESS RESULTS – 2008 mJqmxJK~T luJlu ­ 2008 Pragatibima Division 125.69 93.69 34.16 The year under review witnessed the crisis in financial Kmvõ mJKeP\q IgtQjKfT oªJ, pJ 2007 AÄ pMÜrJPÓsr mºKT Pragati Islamibima Division 15.69 6.76 32.10 markets, which begin in 2007 among sub-prime mortgage EPer ßgPT IJr÷ y~ FmÄ KmPvõr IjqJjq ßhPvS ZKzP~ kPzÇ Islami Jibon Bima (Takaful) 7.78 8.20 (5.12) in the United States and spread to other markets and pJ Kmvõ IgtQjKfT oªJr k´iJj TJre FmÄ âov ImjKfr KhPT Islami Deposit Pension Scheme 19.72 10.11 95.05 much of the rest of the world has resulted in a global Sub Total 303.78 268.89 12.98 pJPóZÇ Vf mZPrr oMhsJÒLKfr yJr Vf TP~T mZPrr fáujJ~ recession that also continued to worsen. The inflation rate of last year was higher than previous years, which indicates ßmvL pJ oªJ IgtjLKfr KjPhtvjJ TPrÇ FA k´KfKâ~J Group Insurance Premium-Life 59.88 61.05 (1.92) worse economic condition. The effect of these was a big IgtjLKfPf FTaJ KmrJa IJWJf, KmPvw TPr mLoJ KvP·Ç Ffxm Group Insurance Premium-Health 50.25 37.41 34.32 blow to the economy, specially to the insurance industry. ^JPouJ xP•ôS Vf mZPrr uJAl lJ¥ mOK≠ ßkP~ 1058.86 Gross Premium 736.46 568.36 29.58 In the face of such a situation, activities of the company KoKu~j aJTJ yP~PZ pJ Vf mZPrr fáujJ~ 33.25% IKiTÇ Reinsurance Premium (10.82) (4.58) 136.24 suffered. In spite of the difficulties, life fund increased to Tk. Net Premium 725.64 563.78 28.71 1058.86 million which was 33.25% over the last year. Investment and other income 170.54 114.39 49.02 Total income 896.18 678.16 32.15 Life Fund 1058.86 794.66 33.25 Mgt. Expenses 499.09 317.67 57.11

Mgt. Expenses as % of total Gross Premium 62.64 54.30 15.36 (Excluding IPO expenses)

ANALYSIS OF UTILIZATION OF INCOME

Claims by death (3.37%) Survival Benefit (4.82%) Hospitalizaion Claims (5.06%) Other Claims (1.58%)

Commission etc. to agent (32.90%)

Salaries etc. to employees (8.49%) 8th Annual General Meeting 2008 of Pragati Life Insurance Limited Other expenses of management (14.30%) Excess of income over outgo added to life Insurance fund (29.48%) Directors’ Report Directors’ Report Directors’

14 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 15 TRUST US FOR LIFE TRUST US FOR LIFE

YEAR-WISE NUMBER OF NEW BUSINESS/LIVES COVERED mZr KnK•T jfáj mqmxJ/mLoJTíPfr xÄUqJ MANAGEMENT EXPENSES mqm˙JkjJ mq~ Pragati Life Insurance Limited since its inception has Êr∆ ßgPTA k´VKf uJAl V´JyT YJKyhJr xJPg xÄVKfkNet S Management expenses to gross premium income ratio ßTJŒJjLr ßoJa Kk´Ko~Jo IJP~r IjMkJPf mqm˙JkjJ mq~ yPóZ been developing new customer oriented and innovative IJTwteL~ ßxmJ k´˜áf TPr IJxPZÇ FA ßxmJxoNy ßTJŒJjLr are 62.64% which is moderate as compared with other 62.64%, pJ F kptJP~ \Lmj mLoJ mqmxJ kKrYJujJr ßãP© products. All the products of the Company are in-house Kj\˝ FqJTYá~JrL~Ju KmnJPV CØJmj TrJ yP~ gJPTÇ life insurance companies at this stage of operation. KjfJ∂A ˝·Ç developed in its own Actuarial Department. All the ßTJŒJjLr k´KfKa ßxmJ fJr Kj\˝fJr \jq APfJoPiq mqJkT Company’s cautious underwriting policy, vigilant ßTJŒJjLr xfTt ImKuUj jLKfoJuJ, mLoJ ^MÅKT V´ye, mJP\a products of the Company have already been able to YJKyhJ xOKÓ TrPf xão yP~PZÇ assessment of risk, budgetary control and sound Kj~πj FmÄ KmYãe KmKjP~JV jLKfoJuJ CkPrJÜ xJlPuqr create huge market demand for its uniqueness. mZr KnK•T Vf kÅJY mZPrr jfáj mqmxJ S mLoJTíPfr xÄUqJ investment policy will ensure that the above successes hJmLhJr pJ KTjJ nKmwqPfS ImqJyf gJTPmÇ Year - wise break -up of new business/lives covered for ßhS~J yPuJ: are sustainable in the futures as well. the last five years is tabulated as below: LIFE FUND uJAl lJ¥ Group Life & Company’s excess of income over outgo added to the ßTJŒJjLr IJ~ mq~ ßvPw IJPuJYq mZPr uJAl lJP¥ IJPrJ Year IPL Islami Jibon Bima Pragatibima Pragati IDPS Health (No. of Life Fund during this year is Tk.264.20 million. The total 264.20 KoKu~j aJTJ ßpJV yP~PZÇ mZPrr xmtPoJa uJAl (Takaful) Islamibima Lives) Life Fund stands at Tk.1058.86 million which is 33.25% lJP¥r kKroJj yPóZ 1058.86 KoKu~j aJTJ pJ KTjJ Vf 2004 7,710 - 21,726 - - 22,235 more than 2007. The achievement was possible due to mZPrr fáujJ~ 33.25% ßmKvÇ F mOK≠ x÷m yP~PZ mq~ strict cost control, innovative and need based products, xÄPTJYj, CØJmjL S YJKyhJ IjMpJ~L kKrT·, rãevLu TKovj 2005 13,637 349 30,602 5,159 4,118 10,500 conservative commission schedule and efficient Kj~oJmuL FmÄ hã mqm˙JkjJr TJrPeÇ Vf kÅJY mZPrr uJAl 2006 17,754 2,492 33,780 8,167 7,580 23,002 management. The chronological statement of Life Fund lJP¥r Im˙Jj âoKnK•T IjMxJPr KjPoú ßhUJPjJ yPuJ: 2007 13,261 3,879 26,057 9,257 14,556 9,687 from last five years is tabulated as below : 2008 23,096 5,447 35,024 14,721 26,815 7,001 Year 2004 Growth 2005 Growth 2006 Growth 2007 Growth 2008 Growth A comparative statement of new business and business in force is attached separately as a part of the report. with with with with with respect respect respect respect respect to 2003 to 2004 to 2005 to 2006 to 2007 (%) (%) (%) (%) (%) PREMIUM INCOME Kk´Ko~Jo IJ~ In the year 2008, the proportionate income of all product 2008 xJu IjMpJ~L, xTu ßk´JcJÖ uJAPjr IJjMkJKfT Kk´Ko~Jo lines is shown below: IJ~ KjPoú ßhUJPjJ yPuJ: Life Fund 176.51 73.55 290.39 64.52 536.14 84.63 794.66 48.22 1058.86 33.25 Taka in Million 14.96 8.83 Gross Gross Proportionate 6.19 Products Premium 235.69 25.80 348.54 47.88 558.83 60.33 568.36 1.70 736.47 29.58 Premium Income (%) 37.47

Individual Product Line (IPL) 275.96 37.47 Pragatibima & Pragati Islamibima Chart : Chronological comparison of Life Fund Division (PB & PIBD) 239.74 32.55 1200 Group Life & Health Insurance (GL & H) 110.14 14.96 Life Fund 1100 Islami Deposit Pension Scheme (IDPS) 65.03 8.83 Gross Premium Islami Jibon Bima (IJB) Takaful 45.59 6.19 1000 Total 736.46 100 900 800 32.55 IPL 700 PBD & PIBD 600 Group Life & Health IJB Takaful 500 IDPS 400 300 CLAIMS hJmL kKrPvJi 200 Company’s overall ratio of claims including survival hJmL kKrPvJPi ßTJŒJjLr xJoKV´T IjMkJf, pJr oPiq rP~PZ 100 benefit, maturity and death claim to gross premium is k´fqJKvf xMKmiJ, ßo~JhkNKft S oOfáq hJmL yPóZ 18.05%, pJ 0 18.05% which is in consistence with market standards. \Lmj mLoJ Kv· mJ\JPrr xJPg xñKfkNetÇ 2004 2005 2006 2007 2008 Directors’ Report Directors’ Report Directors’

16 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 17 TRUST US FOR LIFE TRUST US FOR LIFE

ASSETS xŒh annum on paid up sum assured for Individual Product TŒJC≤ yJPr AjKcKn\M~qJu ßk´JcJÖ uJAPjr Ckr oMjJlJ The Company has sound asset management policy kKroJK\tf xŒh mqm˙JkjJr IKiTJrL yS~J~ ßTJŒJjL Line with profit policies. xPof KrnJxtjJrL ßmJjJx ßWJweJ TPrPZÇ which assures the safeguarding of assets against IjjMPoJKhf mqmyJr IgmJ IkxJre ßgPT oMÜÇ lPu ßTJŒJjL In addition to that a further reversionary bonus is declared FfÆqfLf KjoúKuKUf ZT IjMpJ~L IJA Kk Fu Fr \jq unauthorized use or disposition. The Company also xŒh xMrãJ~ pMKÜpMÜ KjÁ~fJ KmiJPj xão yP~PZÇ ßTJŒJjL for IPL with profit policies as per following table. KrnJxtjJrL ßmJjJx ßWJweJ TrJ y~Ç follows proper records and policy regarding capital oNuijL mqP~r pgJpg jLKfoJuJ kJuj xy ßrTctk© xÄrãe Term for premium Bonus rate per thousand Kk´Ko~Jo kKrPvJPir KjKhtÓ xo~ xŒJKhf mLoJ IÄPTr yJ\Jr expenditures. The chronological statement of assets for TPr gJPTÇ Vf kÅJY mZPr IK\tf xŒPhr Im˙Jj KjPoú payment (Years) sum assured (Tk) (mZr) k´Kf ßmJjJPxr yJr (aJTJ) the last five years is tabulated as below: ßhUJPjJ yPuJ: 10 - 14 10 10 ­ 14 10 15 - 19 13 15 ­ 19 13 Year 2004 Growth 2005 Growth 2006 Growth 2007 Growth 2008 Growth 20 and above 16 20 Fr CP≠t 16 with with with with with respect respect respect respect respect Reversionary bonuses have been declared for Takaful KjoúKuKUf ZT IjMpJ~L aJTJlMu oMjJlJxy KrnJxtjJrL ßmJjJx to 2003 to 2004 to 2005 to 2006 to 2007 with profit policies as per following table. ßWJweJ TKr~JPZÇ (%) (%) (%) (%) (%) Term for premium Bonus rate per thousand Kk´Ko~Jo kKrPvJPir KjKhtÓ xo~ xŒJKhf mLoJ IÄPTr yJ\Jr payment (Years) sum assured (Tk) (mZr) k´Kf ßmJjJPxr yJr (aJTJ) Assets 256.52 43.37 458.05 62.93 746.29 63.69 956.96 28.23 1251.25 30.75 Up to 14 10 14 kpt∂ 10 15 and above 12 Chart : Chronological comparison of Assets 15 Fr CP≠t 12

1400 Assets Reversionary bonuses declared for Pragati Bima, Pragati KjoúKuKUf ZT IjMpJ~L k´VKf mLoJ, k´VKf AxuJoL mLoJ, S IJA Islami Bima & IDPS with profit policies as per following table. Kc Kk Fx oMjJlJxy KrnJxtjJrL ßmJjJx ßWJwjJ TKr~JPZÇ 1200 Term for premium Bonus rate per thousand Kk´Ko~Jo kKrPvJPir KjKhtÓ xo~ xŒJKhf mLoJ IÄPTr yJ\Jr payment (Years) sum assured (Tk) 1000 (mZr) k´Kf ßmJjJPxr yJr (aJTJ) Up to 14 10 14 kpt∂ 10 800 15 and above 12 15 Fr CP≠t 12

600 MANAGEMENT mqm˙JkjJ 400 Company has a host of insurance expertise having long A¿MqPr¿ KvP· hLWt kg kJKz ßhmJr kr ßTJŒJjLr FPãP© career in insurance industry. Timely action and prudent KmPvw hãfJ uJn TPrPZÇ xoP~JKYf TJptâo FmÄ mqm˙JkjJr 200 managerial decision have enabled the Company to withstand the competition from the other life insurance Kx≠J∂xoNy ßTJŒJjLPT IjqJjq k´KfPpJKVfJr ßãP© FKVP~ gJTPf xJyJpq TPrPZÇ 0 companies in the market. 2004 2005 2006 2007 2008

ACTUARIAL VALUATION REPORT FqJTYá~JrL~Ju nqJuMP~vj KrPkJat Actuarial valuation of policy liabilities as at 31 December 31 KcPxÍr 2008 Fr mLoJ hJ~xoNPyr FqJTYá~JrL~Ju 2008 was conducted by Dr. Mohammad Sohrab Uddin nqJuMP~vj c: ßoJ: ßxJyrJm CK¨Pjr (F.IJA.F) ÆJrJ xŒJKhf AIA. According to the valuation report the value of net y~Ç nqJuMP~vj KrPkJat IjMpJ~L kKuKxr k´Tíf hJmLr oNuq KZu liabilities under policies were Tk. 916.8 million. The 916.8 KoKu~j aJTJÇ \Lmj mLoJ CÆOP•r kKroJe KZu balance of the Life Insurance Fund was Tk. 1,058.9 million 1058.9 KoKu~j aJTJ, lPu ßTJŒJjLr CÆOP•r kKroJe hJzJ~ revealing a surplus of Tk. 142.1 million. 102.1 KoKu~j aJTJÇ

DIVIDEND FOR THE SHAREHOLDERS ßv~JrPyJøJrPhr \jq unqJÄv Based on the result of this valuation the directors have nqJuMP~vPjr luJlPur KnK•Pf kKrYJuTVe k´Kf 100 aJTJr recommended cash dividend of Tk. 10/- for each Tk. 100/- ßv~JPrr KmkrLPf 10/­ aJTJ jVh unqJÄv xMkJKrv TKr~JPZÇ paid up capital. POLICYHOLDER BONUS kKuKxPyJøJr ßmJjJx Policyholder’s bonus plays a crucial role in procuring k´KfPpJVLfJoNuT mJ\JPr mqmxJr uPãq kKuKx ßmJjJx FTKa business in a competitive market. We are delighted to inform that as per valuation report this year also the xKâ~ nëKoTJ rJPUÇ IJorJ IJjPªr xJPg \JjJPf YJA ßp, Company has declared policy bonus. PLIL declared FqJTYá~JrL~Ju nqJuMP~vj IjMxJPr ßTJŒJjL F mZrS kKuKx 8th Annual General Meeting 2008 of Pragati Life Insurance Limited reversionary bonuses at the rate of 5% compound per ßmJjJPxr ßWJweJ KhP~PZÇ ßTJŒJjL mLoJTíf IÄPTr 5% Directors’ Report Directors’ Report Directors’

18 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 19 TRUST US FOR LIFE TRUST US FOR LIFE

MANAGEMENT COMMITTEES mqm˙JkjJ TKoKa PRODUCT DEVELOPMENT kKrT· Cjú~j There are various committees consisting of senior Kmù Di±tfj KjmtJyL TotTftJPhr xojõP~ VKbf KmKnjú TKoKa Pragati Life Insurance Limited has always believed in k´VKf uJAl A¿MPr¿ KuKoPac mJ\JPr YJKyhJr KnK•Pf jfáj executives formed by the management to administer TfítT ßTJŒJjLr k´P~J\jL~ TJptJKh hã S TJptTrnJPm xMxŒjú innovating new products by appraising the need of the keq xOKÓr uPãq xmthJ KmvõJxLÇ F mZrS k´VKf uJAl kKrT· major functions of the Company effectively and TrPf KjoúmKetf TKoKaèPuJ TJptTr IJPZ: market. This year also Pragati Life has sustained its Cjú~j xOKÓ m\J~ rJUPf jfáj keq YJuM TPrPZÇ efficiently. The nature of the Committees is given below: innovation in product development and introduced a number of new products. Name of the Committee (S) Basic functions 1. Development To oversee the development related affairs of all products CREDIT RATING ßâKca ßrKaÄ 2. Law To look after the legal matters of the Company Credit Rating Information and Services Limited (CRISL) ßâKca ßrKaÄ AjlrPovj F¥ xJKntPxx KuKoPac + 3. Claim To justify claims of all product lines has assigned A Claim Paying Ability rating to Pragati (KxIJrIJAFxFu), hJKm kKrPvJPir KnK•Pf k´VKf uJAl Life Insurance Limited. This has been done on the basis of + 4. Purchase and Procurement To justify the requirement for purchase and oversee the A¿MqPr¿ KuKoPacPT F ßrKaÄ k´hJj TPrPZÇ ßTJŒJjLr procurement procedures as per company’s rules the company’s good fundamentals such as satisfactory CjúfoJPjr IgtQjKfT Im˙J, hO| xoJiJj, C•o Inq∂rLe financial performance, sound solvency, good internal 5. Printing To justify and approve of printing items and oversee its related Kj~πe, mKuÔ TPktJPra Vbj k´níKfr Ckr FA ßrKaÄ KmPmYjJ activities as per company’s rules control, sound corporate structure, diversified product TrJ yP~PZÇ line etc. Insurance company rated in this category is 6. Recruitment To justify the manpower requirement and oversee the recruitment KxIJrIJAFxFu-F ßTJŒJjLr K˙r IgY âomitoJj mqmxJK~T procedures as per Company’s Recruitment policy adjudged to offer high claim paying ability with good protection factor. mOK≠r CkPrS KmPmYjJ TPrPZÇ 7. Employee Performance Appraisal To asses review the employee’s annual performance up to a certain level. Credit Rating Information and Services Limited (CRISL) 8. Receiving Committee To receive the required printing items, stationeries and other has also viewed the company with ‘stable’ outlook for its materials from suppliers as per specimen steady business growth as well as its consistent 9. Coordination Committee of IPL To coordinate the day to day activities of IPL and to monitor fundamentals. the implementation progress of the decisions.

TKoKaxoNy TJptJmuL 1. Cjú~j xTu k´TJr mLoJ xÄKväÓ Cjú~j TJptJmuL fhJrT 2. IJAj ßTJŒJjLr IJAj Kmw~T TJptJKh kKrYJujJ 3. mLoJ hJmL mLoJ hJmLr ßpRKÜTfJ Kjr‡ke S hJ~ kKrPvJi 4. â~ S xÄV´y ßTJŒJjLr KmKi KmiJj IjMpJ~L â~ S xÄV´y Kmw~T TJptJmuL kKrYJujJ 5. oMhse ßTJŒJjLr KmKi KmiJj IjM~J~L ßTJŒJjLr oMhse xÄKväÓ TJptJKh 6. KjP~JV KmKi IjMpJ~L \jmu xÄV´Pyr TJptJmuL 7. TotYJrL hãfJ oNuqJ~j ßTJŒJjLr TotLPhr hãfJr oNuqJ~j 8. V´ye Kmw~T joMjJ IjMpJ~L xrmrJyTJrLPhr TJZ ßgPT xTu xJoV´L V´ye 9. IJAKkFu xojõ~TJrL ‰hKjT IJAKkFu TotTJ¥ xojõ~ FmÄ Kx≠J∂èPuJr TJptTJKrfJ kptPmãe

8th Annual General Meeting 2008 of Pragati Life Insurance Limited Directors’ Report Directors’ Report Directors’

20 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 21 TRUST US FOR LIFE TRUST US FOR LIFE

PRAGATI URBAN DIVISION OF PLIL k´VKf IJrmJj KcKnvj ELECTION OF SPONSOR DIRECTORS CPhqJÜJ kKrYJuPTr KjmtJYj Except Group Insurance Division of the Company, all its V´∆k mLoJ mqfLf IJr Ijq ßp ßTJj FTT ßxmJ KmKnjú V´JoJûu The following Sponsors Directors shall retire from the KjoúKuKUf CPhqJÜJ kKrYJuTVe Imxr V´ye TrPmjÇ ßpJVq individual (both micro & macro) plans are being sold by Agents office. Being eligible, they offered themselves for mJ ß\uJ vyrxoNPy FP\≤ TfítT Kmâ~ TrJ y~Ç dJTJ rJ\iJjL KmiJ~ k´PfqPTA kMj:KjmtJYPjr AóZJ k´TJv TPrPZjÇ working mostly in the rural areas or in some district towns. reelection. Dhaka is the capital city and about 3 crore people live in the city 1. \jJm fJKmg Fo. IJC~Ju vyr, pJr oiq FmÄ kJvõtmftL FuJTJxoNPy k´J~ 3 ßTJKa oJjMw 1 Mr. Tabith M. Awal and adjacent areas. Most of the administrative and economic 2. \jJm \JTJKr~J fJPyr mxmJx TPrÇ ßhPvr ßmKvr nJV kKrYJujJ xŒKTtf FmÄ 2. Mr. Zakaria Taher activities of the country are also carried out in Dhaka city and 3. \jJm ßxKuo ryoJj we can not ignore importance of Dhaka city for business IgtQjKfT TotTJ¥ dJTJ ßgPTA kKrYJKuf y~Ç F\jq dJTJ 3. Mr. Salim Rahman kJmKuT ßv~JrPyJøJr kKrYJuPTr KjmtJYj purpose for a long time. vyrPT ßmKvKhj FKzP~ YuJ IJoJPhr kPã x÷m y~KjÇ ELECTION OF PUBLIC SHAREHOLDERS’ DIRECTORS KjoúKuKUf xJiJre ßv~JrPyJøJr kKrYJuTVe Imxr V´yj Considering potentials of the business in urban areas, we The following Public Shareholder Directors shall retire vyrJûPur x÷Jmq mqmxJP~r TgJ KY∂J TPr IJorJ kKrT·jJ TPrPmjÇ ßpJVq KmiJ~ k´PfqPTA kMj:KjmtJYPjr AóZJ k´TJv are planning to concentrate on how we can penetrate in from the office. Being eligible, they offered themselves TPrKZ ßToj TPr F KmvJu mJ\JPr k´Pmv TrJ pJ~Ç Fxm TgJ this huge potential market. With this view in mind, the for reelection. TPrPZjÇ Company has established a new Division titled “Pragati KY∂J TPrA ßTJŒJjL k´KfÔJ TPrPZ ‘k´VKf IJrmJj KcKnvj’Ç 1. Mrs. Nelofer Kamal 1. KoPxx KjuMlJr TJoJu Urban Division”. An experienced Development 2. Mr. Tafsir M. Awal 2. \jJm fJlKxr Fo. IJC~Ju Coordinator with sufficient development staff has already been appointed. APPIONTMENT OF AUDITORS KjrLãT KjP~JV CORPORATE SOCIAL RESPONSIBILITY xJoJK\T hJ~m≠fJ The Auditors M/s Rahman Mustafiz Haq & Co. Chartered ßoxJxt ryoJj oM˜JKl\ yT F¥ ßTJÄ YJaJct FTJCjPa≤x The Company always acknowledges its responsibilities for the xoJP\r k´Kf hJ~m≠fJ ßTJŒJjL ˝LTJr TPrÇ mrJmPrr oPfJ accountants retire at the conclusion of ensuing Annual IJxjú mJKwtT xJiJre xnJ~ Imxr V´ye TrPmjÇ ßTJŒJjL well being of the society. Like earlier, Pragati Life has jointly k´VKf uJAl \JfL~ mOãPouJ­F pMVìnJPm kOÔPkJwTfJ TPrPZ General Meeting being eligible under Section 210 of the IJAj 1994 Fr 210 iJrJ IjMpJ~L kMj:KjP~JPVr ßpJVq FmÄ sponsored the National Tree Fair, to create awareness among kKrPmPvr nJrxJoq xŒPTt xJiJre \jVePT xPYfj TrPfÇ Companies Act 1994 offered themselves for fJrJ kMj:KjP~JPVr k´˜Jm TPrPZjÇ general people regarding protection of ecological balance. re-appointment. Company also distributed substantial relief materials among FZJzJS ßTJŒJjL ßhPvr hKãeJûPur KxcPr ãKfV´˜ \jVPer oPiq ©Je xJoV´L Kmfre TPrÇ the Sidr affected people in the Southern part of Bangladesh. CORPORATE GOVERNANCE k´JKfÔJKjT xMvJxj Three separate committees for Audit, Administrative and OUT LOOK FOR 2009 2009 xJPur kNmtJnJw k´JKfÔJKjT xMvJxPjr \jq KjrLãJ, k´vJxj FmÄ Igt Kmw~T KfjKa Pragati Life is aspiring to be the leading life insurance company Finance have been formed which comply with the TKoKa Vbj TrJ yP~PZ pJ KxKTCKrKa\ F¥ FéPY† TKovj Fr k´VKf uJAl ßhPvr ßxrJ \Lmj mLoJ ßTJŒJjL KyPxPm k´KfÔJ relevant guidelines of Securities & Exchange in the country. For its customer oriented products, prudent xÄKväÓ jLKfoJuJPT IjMxre TPrÇ ßTJŒJjLr k´JKfÔJKjT management, efficient services and uses of new technologies, kJmJr \jq FKVP~ pJPóZ V´JyPTr YJKyhJ IjMpJ~L kKrT·, hNrhvtL Commission on Corporate Governance. The Committees TJptâPor kptJPuJYjJ, KhT KjPhtvjJ FmÄ mqmxJP~r KmKnjú ^MÅKT S the Company has already gained firm confidence in the mind of mqm˙JkjJ, KjkMe ßxmJ k´hJj FmÄ jfáj k´pMKÜr mqmyJPrr lPu look into compliance of various procedures and Imqm˙J yPf xMrãJr \jq F TKoKaèPuJ TJ\ TPrÇ its clients. The Company expects to achieve substantial ßTJŒJjL APfJoPiq fJr V´JyPTr IJ˙J I\tPj xão yP~PZ FmÄ regulations related to Corporate Governance and review premium income growth for the year 2009. To meet the 2009 xJPu pPgÓ kKroJe Kk´Ko~Jo I\tj TrJ pJPm mPu IJvJ various guidelines, procedures and safeguards to F KmwP~ mJKwtT k´KfPmhPj FTKa kOgT KmmreL ßhS~J yPuJÇ growing competition in the market, the management will TrPZÇ 2009 xJPu k´KfPpJKVfJr mJ\JPr ImfLet yPf minimize the incidents of various risks faced by the initiate the following measures to achieve the target for the Company in the business environment. year 2009: ßTJŒJjLr mqm˙JkjJ kwth KjoúKuKUf mqm˙JKh V´ye TPrPZ: • To strengthen our marketing thrust the Company has • mJ\JPr YJKyhJ xMhO| rJUPf ßTJŒJjL oJPTtKaÄ Fr \jq A separate report on Corporate Governance is provided recruited a Deputy Managing Director for marketing as part of the Annual Report. FT\j Ck­mqm˙JkjJ kKrYJuT oJPTtKaÄ KjP~JV ßhj • Initiating new product development and customization the existing products as per market trend and customer • jfáj kKrT· k´Yuj xy kNmtmftL kKrT·xoNyPT mJ\Jr S demand YJKyhJ IjMxJPr KmjqJx TrJ • Recruit quality manpower and arrange required training • Kj~Kof Cjúf TotL, hã \jvKÜ KjP~JV hJj FmÄ k´P~J\jL~ program both for the regular and development staff k´KvãPer mqm˙J • The Company is looking to replace its existing Life • Administrative system by a new much more advanced ßTJŒJjL mftoJj k´vJxKjT k≠Kf jfáj CjúfoJPjr computerized system TKŒCaJrJA\c k≠Kfr oJiqPo k´Kf˙Jkj TrPf xPYÔ IJPZ • Initiating more promotional programs • IKiT yJPr k´YJreJoNuT TJptâo V´ye • Modernization of the company’s website and generate • SP~mxJAa Cjú~j S ßxmJr oJj Cjú~Pj jfáj CØJmjL new innovative ideas for improvisation of the customer TJptâo V´ye service Directors’ Report Directors’ Report Directors’

22 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 23 TRUST US FOR LIFE TRUST US FOR LIFE

DIRECTOR’S RESPONSIBILITY STATEMENT kKrYJuTo¥uLr hJK~fôJmuLr KmmOKf ACKNOWLEDGEMENT TífùfJ With regard to responsibilities for preparation and ßTJŒJjLr IJKgtT KmmreL k´˜áf FmÄ Ck˙JkjJ~ kKrYJuTo¥uL On behalf of the Board of Directors, I wish to extend kKrYJujJ kwtPhr kã yPf, ImqJyf xJyJpq xyPpJKVfJr \jq presentation of the Financial Statements, the Directors fJPhr hJK~Pfôr KmwP~ KjKÁf TPrj ßp: thanks to our valued policy holders, honorable xÿJKjf kKuKxPyJøJr, ßv~JrPyJøJr, YLl TP≤sJuJr Il confirm that: shareholders, the office of the Chief Controller of A¿MqPr¿, mqJÄTxoNy, KxKTCKrKa\ F¥ FéPY† TKovj, ˆT 1. ßTJŒJjL IJAj 1994, mLoJ IJAj 1938, mLoJ KmKi 1958 Insurance, our Bankers, Securities and Exchange FéPY† FmÄ ßx≤sJu KcPkJK\arL Il mJÄuJPhv KuKoPac Fr 1. The financial statements together with the notes FmÄ KxKTCKrKa\ F¥ FéPY† KmKi 1987 Fr KmiJjJmuLr Commission (SEC), Stock Exchanges and Central thereon have been drawn up in conformity with the xJPg ßTJŒJjL TftOT k´˜áfTíf IJKgtT KmmreL FmÄ Depository of Bangladesh Limited (CDBL) for their IKlxoNPyr k´Kf IJKo ijqmJh S TífùfJ ùJkj TrKZÇ companies Act. 1994, Insurance Act. 1938, Insurance FfhxñL~ ßjJaxoNy xñKfkNetÇ continuous support and cooperation. ßTJŒJjLr xJluq I\tPjr KkZPj CPhqJÜJ, kOÔPkJwT, Rules 1958 and Securities and Exchange Rules 2. ßTJŒJjLr mJKwtT KyxJm, k´˜áfTJPu KyxJm KmùJPjr oJj The Board of Directors also expresses deep appreciation mqm˙JkjJ~ KjpMÜ xTu xhxq FmÄ ÊnJjMiqJ~LPhr k´Kf fJPhr 1987.These statements present fairly the Company’s to the Sponsors, Patrons, Management, all members of xKâ~ xJyJpq S xyPpJKVfJr \jq kKrYJujJ kwth TífùfJ statement of affairs, the result of its operation and IjMpJ~L xŒjú TrJ yP~PZ FmÄ FfhxŒKTtf mqJUqJ KmmOf TrJ yP~PZÇ staff and well wishers, whose continued support and ùJkj TPrPZjÇ cash flow. patronage have made the results possible. 2. In the preparation of the annual accounts, the 3. kKrYJuTo¥uL KyxJm KmùJPjr jLKfoJuJ KjKhtÓ TPr applicable accounting standards have been followed xJo†xqr‡Pk k´P~JV, KmYJr KmPväwe ÆJrJ KjKÁf yP~PZj ßp, kKrYJujJ kwtPhr kPã­ For and on behalf of the Board along with proper explanation relating material IJPuJYq KyxJmJKhPf ßTJŒJjLr ˝óZ KY© k´KflKuf yP~PZÇ departure, if any. 4. ßTJŒJjL IJAj 1994, mLoJ IJAj 1938, mLoJ KmKi 1958 3. The Directors had selected each accounting policy S KxKTCKrKa\ F¥ FéPY† KmKi 1987 Fr KmiJjJmuLPf ‰x~h Fo. IJufJl ßyJxJAj and applied them consistently and made judgments mKetf IJAj S KmKiKmiJj ßoPj ßTJŒJjLr KyxJPm k´fJreJ S Syed M. Altaf Hussain ßY~JroqJj and estimates that are reasonable and prudent so as IKj~Por KmwP~ KjrJk•J KmiJj S IjMxºJj ÆJrJ ßTJŒJjLr Chairman kKrYJujJ kwth to give a true and fair view of the state of affairs of the xŒh rãeJPmãPe kKrYJuTo¥uL pPgJkpMÜ S pPgÓ Board of Directors Company at the end of financial year and of the pfúvLu KZPujÇ results of the Company for that period. 5. kKrYJuTo¥uL ‘YuoJj k´Kâ~J~’ mJKwtT KyxJm k´˜áf Dated: Dhaka, April 30, 2009 fJKrU: dJTJ, FKk´u 30, 2009 4. The Directors had taken proper and sufficient care for TPrPZjÇ the maintenance of adequate accounting records in 6. Inq∂rLe Kj~πe mqm˙J xMkKrTK·f FmÄ TJptTrnJPm accordance with the provisions of the Company‘s k´P~JVTíf FmÄ Kj~KofnJPm kptPmãeTífÇ Act, 1994, Insurance Act. 1938, Insurance Rules 1958 and Securities and Exchange Rule 1987 for 7. Vf kÅJY mZPrr KyxJPmr CkJ• ‘IJKgtT IJPuJTkJf’ safeguarding the assets of the Company and for IJTJPr xÄPpJK\f yPuJÇ preventing and detecting fraud and other irregularities. 5. The Directors had prepared the annual accounts on “Going Concern” basis. 6. The Internal Control system is sound in design and effectively implemented and monitored. 7. The key operating and financial data of the last five years is annexed as “Financial Highlights”. Directors’ Report Directors’ Report Directors’

24 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 25 TRUST US FOR LIFE TRUST US FOR LIFE

REPORT ON CORPORATE GOVERNANCE k´JKfÔJKjT kKrYJujJr Ckr k´KfPmhj STANDING COMMITTEES ˙J~L TKoKaxoNy Board of Directors as at 31st December, 2008 ßTJŒJjLr ßmJct k´JKfÔJKjT kKrYJujJr Im˙JjPT ÊiMoJ© To oversee the financial and administrative matters of ßTJŒJjLr IJKgtT, KjrLãe S k´vJxKjT KmwP~ xMÔM f•ôJmiJPjr The company’s Board appreciates the value of good hJ~m≠fJ KTÄmJ ^MÅKT mqm˙JkjJr \jqA j~, mqmxJ~ CjúKfr the Company the following sub committees have been \jq kKrYJuTmOª xojõP~ Kjoúr‡k Ck­TKoKa Vbj TrJ y~, pJ corporate governance not only in the areas of formed by the Board of Directors as technical ßãP© èr∆fôkNet ImhJj KyPxPmS èr∆fô k´hJj TPr gJPTÇ FaJ committees: ßaTKjTqJu TKoKar‡Pk KmPmYq: accountability and risk management but also as a KmvõJx TrJ y~ ßp, k´JKfÔJKjT kKrYJujJ KaT KY¤ hJPjr oJiqPo positive contribution to business prosperity. It believes ßTJŒJjLr kKrYJujJr xTu IJvõJx kNre TrJ j~, mrû FaJ that corporate governance involves more than a simple Finance Committee box ticking approach to establish whether a company yPóZ ßxA Kj~πe, pJ KxKTCKrKa\ F¥ FéPY† TKovj TfítT has met the requirements of a number of specific rules k´TJKvf Kj~oJmuL hJK~fôvLu FmÄ k´JP~JKVTnJPm ßTJŒJjLr Name Designation Number of Meeting Attended and regulations. Rather the issue is one of applying KmKnjú IJPuJPT mqmÂf yPóZ KTjJ fJr krLãeÇ Fr k´iJj Mr. A.S.M. Mohiuddin Monem Convener 3 Syed M. Altaf Hussain Member 1 corporate governance principles published by the CP¨vqA yPóZ kKuKxPyJøJr S ßv~JrPyJøJrVPjr ˝Jgt rãJÇ Securities and Exchange Commission in sensible and Mr. Fazlur Rahman Member 2 pragmatic fashion having regard to the individual 2008 xJPu kKrYJujJ kwtPhr kKrYJuTo¥uL KjoúmKetf xÄUqT Mr. Tabith M. Awal Member 2 circumstances of a particular company’s business. The xnJ~ IÄvV´ye TPrPZj: Mr. Tafsir M. Awal Member 1 key objective is to enhance and protect policyholders’ Mrs. Nelofer Kamal Member 0 and shareholders’ value. Mr. Imam Shahed Hossain Member 1 Mrs. Parveen Lucy Member 2 The number of Board meetings and the attendance of Directors during the year 2008 were as follows: Igt TKoKa Name Designation Number of Meeting Attended jJo khoptJhJ CkK˙Kf Syed M. Altaf Hussain Chairman 12 \jJm F.Fx.Fo. oKyCK¨j ßoJPjo IJymJ~T 3 Mr. A.S.M. Mohiuddin Monem Vice-Chairman 6 \jJm Fo. IJufJl ßyJPxj xhxq 1 Mr. Abdul Awal Mintoo Director 11 \jJm l\uMr ryoJj xhxq 2 Mr. Tabith M. Awal Director 7 \jJm fJKmg Fo. IJC~Ju xhxq 2 Mr. A.K.M. Rafiqul Islam, FCA Director 10 \jJm fJlKxr Fo. IJC~Ju xhxq 1 Mr. Mabroor Hossain Director 7 KoPxx KjuMlJr TJoJu xhxq 0 Mr. Salim Rahman Director 9 \jJm AoJo vJPyh ßyJPxj xhxq 1 Mr. Zakaria Taher Director 1 IiqJKkTJ kJrKnj uMKx xhxq 2 Mr. Tafsir M Awal Director 8 Mr. Md. Fazlur Rahman Director 9 Powers and Functions of the Finance Committee Mrs. Nigar Jahan Chowdhury Director 9 Igt TKoKar ãofJ S TJptâo Mr. Imam Shahed Hossain Director 9 The procedures for the functioning of the Finance Igt TKoKar TJptâPor kKrKi yPuJ ßTJŒJjLr KmKjP~JV, KyxJm Mr. Md. Shafiur Rahman Director 8 Committee is to supervise, look after and oversee all matters relating to Investment, Accounts, and Budget of the S mJP\a Kmw~T TJptâo fhJrKT FmÄ kptJPuJYjJ TrJÇ Mrs. Nelofer Kamal Director 2 Company. Prof. Parveen Lucy Director 11 T. mLoJ IJAPjr IJPuJPT Cjú~j S Kj~Kof KmKjP~JV fJKuTJ a) Investment should be both development oriented and ßoJfJPmT oMjJlJKnK•T KmKjP~JVÇ profit-folio oriented. A guideline would be approved jJo khoptJhJ CkK˙Kf keeping the Insurance Law into consideration. U. ßTJŒJjLr fyKmu KmPmYjJ~ FT mZr ßo~JhL KmKjP~JV ‰x~h Fo IJufJl ßyJxJAj ßY~JroqJj 12 b) To assess the funds position and approve investment Totk∫J Kjr‡keÇ \jJm F.Fx.Fo. oKyCK¨j ßoJPjo nJAx­ßY~JroqJj 6 program for the Company for a year. V. KmKjP~JV IJAj S KmKi ßoJfJPmT Kms\ lJAjqJjKxÄ, ßv~Jr \jJm IJmhMu IJC~Ju Ko≤á kKrYJuT 11 c) To consider and approve investment proposal for \jJm fJKmg Fo. IJC~Ju kKrYJuT 7 Bridge Financing, underwriting of shares, Debentures of S KcPmûJr ImKuUj k´˜Jm KmPmYjJ TrJ FmÄ IjMPoJhjÇ \jJm F.ßT.Fo rKlTáu AxuJo, FlKxF kKrYJuT 10 companies as per investment act and rules. W. VOyJ~j FmÄ nmj k´TP· KmKjP~JV kptPuJYjJ FmÄ \jJm oJmr∆r ßyJPxj kKrYJuT 7 d) To consider and approve investment in Real Estate and IjMPoJhjÇ \jJm ßxKuo ryoJj kKrYJuT 9 building projects. \jJm \JTJKr~J fJPyr kKrYJuT 1 e) To consider and approve investment in Securities, X. xrTJrL KxKTCKrKa\, xJKatKlPTa, m¥, Ee FmÄ \jJm fJlKxr Fo. IJC~Ju kKrYJuT 8 Certificates, Bonds, Loan, Debentures issued by the KcPmûJPrr KmKjP~JV KmPmYjJ TrJ S IjMPoJhjÇ \jJm ßoJ: l\uMr ryoJj kKrYJuT 9 Government. Y. kMÅK\ mJ\JPr ßv~Jr S KxKTCKrKa\ ßujPhj KmPmYjJ S KoPxx KjVJr \JyJj ßYRiMrL kKrYJuT 9 f) To consider and approve dealing in shares and \jJm AoJo vJPyh ßyJPxj kKrYJuT 9 securities in the secondary market i.e. Stock Exchange. IjMPoJhjÇ \jJm ßoJ: vKlCr ryoJj kKrYJuT 8 g) To consider the form of investment, disposal, Z. KmKjP~JV TrJ k´fqJyJr, kMj: KmKjP~JV mqm˙JKhr k≠Kf KoPxx KjuMlJr TJoJu kKrYJuT 2 re-investment arrangement etc. IiqJKkTJ kJrKnj uMKx kKrYJuT 11 KmPmYjJ TrJÇ Directors’ Report Directors’ Report Directors’

26 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 27 TRUST US FOR LIFE TRUST US FOR LIFE

Board Meeting TRUST US FOR LIFE TRUST US FOR LIFE

Administrative Committee Audit Committee KjrLãJ TKoKar ãofJ S TJptâo Name Designation Number of Meeting Attended 1. Legal Mandate 1. IJAjL xogtj Mr. A.K.M. Rafiqul Islam, FCA Convener 8 The Audit Committee of Pragati Life Insurance Limited k´VKf uJAl A¿MqPr¿ KuKoPac Fr KjrLãJ TKoKa kKrYJuT Mr. A.S.M. Mohiuddin Monem Member 2 was formed by the Board of Directors in accordance with the notification of Securities and Exchange Commission kwtPhr xJyJPpq KxKTCKrKa\ F¥ FéPY† TKovPjr ImPuJTj Mr. Tabith M. Awal Member 6 jÄ FxAKx/KxFoIJrIJrKc/2006­158/FcKoj/02­08, pJ Mr. Md. Shafiur Rahman Member 5 notification no. SEC/CMRRCD/2006-158/Admin/02-08 Mr. Salim Rahman Member 2 dated 20th February 2006. KTjJ ßlms∆~JKr 20, 2006 fJKrPUr IJPuJPT xŒKTtfÇ Mrs. Nigar Jahan Chowdhury Member 3 The Audit Committee meetings were held to mainly KjrLãJ TKoKar xnJxoNy KjoúKuKUf TJptxoNy xŒJhPjr \jq Mr. Khalequzzaman Chowdhuri Member 0 carry out the following tasks: IjMKÔf yP~PZ: Sufficient effectiveness of the internal financial Inq∂rLe IJKgtT Kj~πPe kptJ¬ xMYJr‡r‡Pk xŒJhjJÇ controls. k´vJxKjT TKoKa Compliance of all applicable legal and regulatory IJAjVf S jLKfVfnJPm xTu k´TJr Kj~ojLKf kJujÇ jJo khoptJhJ CkK˙Kf rules and regulations. kKrYJujJVf xTu TJptTuJPkr KrPkJat ßkvÇ \jJm F.ßT.Fo. rKlTáu AxuJo, FlKxF IJymJ~T 8 Various reports of operational activities and IJPuJYq mZPrr oPiq TKoKar xhxqxoNPyr KoKuf yS~Jr KmmreL \jJm F.Fx.Fo. oKyCK¨j ßoJPjo xhxq 2 streamlined the operations of the Company. \jJm fJKmg Fo. IJC~Ju xhxq 6 Kjoúr‡k: \jJm ßoJ: vKlCr ryoJj xhxq 5 During the year under review, the Committee members \jJm ßxKuo ryoJj xhxq 2 met six times as detail value: KoPxx KjVJr \JyJj ßYRiMrL xhxq 3 Audit Committee KjrLãJ TKoKa \jJm UJPuTáöJoJj ßYRiMrL xhxq 0 Number of Name Designation Meeting Attended jJo khoptJhJ CkK˙Kf Mr. Abdul Awal Mintoo Convener 6 \jJm IJmhMu IJC~Ju Ko≤á IJymJ~T 6 Powers and Functions of the Administrative k´vJxKjT TKoKar ãofJ S hJK~fô Mr. A.K.M. Rafiqul Islam, FCA Member 6 \jJm F.ßT.Fo. rKlTáu AxuJo, FlKxF xhxq 6 committee Mr. Mabroor Hossain Member 3 \jJm oJmr∆r ßyJPxj xhxq 3 k´vJxKjT S ßTJŒJjLr mqm˙JkjJ~ TKoKa KjPoúJÜ TJptJmuL Mr. Md. Shafiur Rahman Member 4 \jJm ßoJ: vKlCr ryoJj xhxq 4 The functions of this committee in the area of TPrj: Administration and Personnel Management are: 2. Objectives 2. uãq T. mqm˙JkjJ kKrYJuPTr IKiPã© mKynëtf xTu KjP~JV, a. To examine and to decide matters relating to 2.1 The SEC Notification No, SEC/CMRRCD/2006-158/ 2.1 FxAKx Fr ÆJrJ ImVf Tre jÄ FxAKx/ kPhJjúKf, KmPhPv k´Kvãe, ZáKa, ßmfj, k´vJxj FmÄ recruitment, promotion, foreign training, leave, salary, Admin/02-08 dated 20 February 2006 and/or any KxFoIJrIJrKxKc/2006­158/FcKoj/02­08 pJ KTjJ administration and employee evaluation beyond the oNuqJ~jÇ amendment thereto from time to time by the SEC or delegated powers of Managing Director. ßlms∆~JKr 20, 2006 fJKrPUr IgmJ Fr ßTJj xÄPvJij U. mqm˙JkjJ TftOkã TfítT k´˜áf Tot KmmreL krLãJ S any other Regulatory authority will guide the power, duties and functions of the Audit KjrLãJ TKoKar TJptTJKrfJ Kj~πe TrPmÇ b. To examine job description, job analysis and kptJPuJYjJ, ßuJTmu KjP~JV FmÄ TJbJPoJVf manpower recruitment estimates prepared by Committee. 2.2 ßTJŒJjLr mqmxJr Im˙J Fr xfqfJ FmÄ kKróZjúfJ m\J~ kMjKmtjqJxTre KmwP~ k´˜Jm KmPmYjJÇ management and also to check the correction of 2.2 The Audit Committee shall perform the necessary rJUJr \jq KjrLãJ TKoKa kKrYJujJ kwthPT xyJ~fJ Organogram proposed by management. V. mqm˙JkjJ kKrYJuPTr IKiPã© mKyntNf pπkJKf, activities with a view to assisting the Board of TrPmÇ c. To oversee purchase of equipment, furniture, IJxmJmk©, pJjmJyj, oPjJyJrL FmÄ IjqJjq mqmyJpt Directors in ensuring that the Financial Statements 2.3 KjrLãJ TKoKa kKrYJujJ kwthPT Igt xÄâJ∂ ßp ßTJj vehicles, stationery and other consumable stores hsmqJKhr â~ f•ôJmiJjÇ reflect true and fair view of the state of affairs of the beyond the delegated power of Managing Director. Company and to ensure a good monitoring system KmKioJuJ IjMPoJhPjr ßãP© oNuqJ~j IgmJ xMkJKrv W. ßTJŒJjL TfítT ßh~ ßxmJr oJj kptJPuJYjJ TPr Cjú~j within the business. d. To review quality and types of services offered by the TrPmÇ company and to suggest measures for improvement. KmwP~ krJovt k´hJjÇ 2.3 The Audit Committee shall review and recommend to the Board of Directors to approve the financial 2.4 KjrLãJ TKoKar uãq gJTPm ßTJŒJjLr TJptâPo hãfJ statements prepared for statutory purposes, when xOKÓ FmÄ ßTJŒJjLr k´JKfÔJKjT xMvJxj KjKÁf TrJÇ deemed fit. 2.5 KjrLãJ TKoKa pgJ xoP~ kKrYJujJ kwthPT Inq∂rLe 2.4 The Audit Committee shall aim to create efficiency KjrLãJr luJlu èr∆fô IjMpJ~L ImKyf TrPmÇ in the operations and to add value to the Company and ensure corporate governance. 2.6 KjrLãJ TKoKa IJAjVfnJPm KjrLãTPhr ˝JiLjfJ 2.5 The Audit Committee shall report to the Board of xÄrãe FmÄ Inq∂rLe KjrLãJr TJptTrL TotTJ¥ KjKÁf Directors on internal audit findings from time to TrPf fhJrTL nëKoTJ V´ye TrPmjÇ time considering the significance of the issues. 2.6 The Audit Committee shall carry on supervision role to safeguard independence of statutory auditors and to ensure the effective functioning of the internal audit system. Directors’ Report Directors’ Report Directors’

30 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 31 TRUST US FOR LIFE TRUST US FOR LIFE

3. Power 3. ãofJ 4.7 To review the draft Report and Accounts before 4.7 kKrYJujJ kwtPhr xnJ~ Ck˙JkPjr IJ�PV UxzJ 3.1 The Committee, in the course of performance of its 3.1 hJK~fô kJuPjr ßãP© ßTJŒJjLr ßp ßTJj TotYJrLr KjTa submission to the Board. k´KfPmhj S KyxJmKh kMj: KjrLãeÇ duties, may ask for any information, papers, yPf xhxq xKYPmr oJiqPo ßp ßTJj fgq, TJV\ k©JKh, 4.8 To review any compliance required by the Securities 4.8 IJAj, KmKi, Kj~ojLKf FmÄ ßTJŒJjLr IJKatPTux Il documents from any employee of the Company k´JoJKjT hKuuJKh IJymJj TrPf kJPr pJ TKoKar KjTa and Exchange Commission (SEC) including FPxJKxP~vj IjMxrPer \jq KjPhtv k´hJPj ãofJk´J¬ through its Member Secretary and such employee Ck˙Jkj TrJ mJiqfJoNuTÇ securities related laws, rules and regulations, xÄ˙J mJ xrTJrL h¬rxy KxKTCKrKa\ FéPY† TKovj shall be bound to comply with such instructions of Articles of association of the Company or by any 3.2 xhxq xKYPmr oJiqPo TKoKa ßp ßTJj KmPvwù ofJof KjPhtKvf IjMxreL~ Kmw~JKh kptJPuJYjJÇ the Committee. other Agency or Government bodies empowered \JjJr IKiTJr rJPUÇ 4.9 wJjìJKwT S IjqJjq I∂mtftLTJuLj xoP~r IJKgtT to require such compliance. 3.2 The Committee may ask for any expert opinion as k´KfPmhj kptJPuJYjJÇ and when required through it's Member Secretary. 3.3 Inq∂rLe KjrLãT k´iJj IKca TKoKar KjTa k´KfPmhj 4.9 To review half yearly and other interim financial ßkv TrPmjÇ k´P~J\j IjMxJPr I�nq∂rLe KjrLãT statement. 4.10 Inq∂rLe KjrLãJ~ KmPvwnJPm CPuäU TrJ xMkJKrvTíf 3.3 The Head of Internal Audit shall report to the Audit k´iJjPT TKoKar xÿMPU CkK˙f yP~ mqJUqJ KmPväwe Kmw~JmuLPf mqm˙JkjJ TftOkã TftOT khPãk V´ye Committee and the Committee may also ask him to TrPf yPmÇ 4.10 To ensure that the follow up actions are taken by the KjKÁf TreÇ be present before the Audit Committee for any management on recommendations highlighted in clarification on his report as may be required by the 3.4 TKoKa Kj\ hJK~fô kJujTJPu ßTJŒJjLr IKlxxoNy IgmJ internal audit reports. 4.11 kKrYJujJ kwth TftOT k´hJjTíf KmPvw IjMxºJj TJptâo Committee. mJÄuJPhPvr ßp ßTJj ˙Jj kptPmãe TrPf kJrPmjÇ fhJrKT TreÇ 4.11 To supervise special investigations when assigned 3.4 The Committee, for the purpose of performing its by the Board. duties, may visit the offices of PLIL or any other place within Bangladesh. CORPORATE GOVERNANCE COMPLIANCE REPORT KxKTCKrKa\ F¥ FéPY† TKovPjr KmùK¬ IjMxre Status of the compliance with the condition imposed by KxKTKTCKrKa\ F¥ FéPY† IiqJPhPvr 2KxKx iJrJ IjMpJ~L the Commission’s Notification No. SEC/CMRRCD/ 20ßv ßlms∆~JrL 2006 AÄ fJKrPU FxAKx/KxFoIJrIJrKxKc/ 4. Responsibilities and Duties 4. hJK~fô S Tftmq 2006-158/Admin/02-08 dated 20th February, 2006 2006­158/FcKoj/02­08 IjMpJ~L xŒJKhf TJptâPor 4.1 The responsibilities, duties and powers of the Audit issued under the section 2CC of the Securities and 4.1 ßTJŒJjLr xTu hJK~fô ßlms∆~JKr 20, 2006 fJKrPUr Exchange Ordinance, 1969: Kmmre Kjoúr‡k: Committee shall be Guided by the SEC Notification ImVfTre jÄ FxAKx/KxFoIJrIJrKxKc/2006­158/ No. SEC/CMRRCD/2006-158/Admin/02-08 dated 20 Compliance status FcKoj/02­08 IgmJ Fr ßTJj xÄPvJijL ÆJrJ Kj~Kπf yPmÇ Condition Explanation for February 2006 and/or any amendment thereto Designation Not noncompliance/ No. Complied from time to time by the SEC or any other 4.2 Inq∂rLe Kj~πe TJptk´eJuL pgJpgnJPm kJuj KjKÁf Complied comments Regulatory authority. TrJ FmÄ kJuj jJ yPu fJ KrPkJat IJTJPr k´P~J\jL~ 1.1 Board’s size xÄPvJijL k´˜áf xy ßkv TrJÇ 1.2 (i) Independent Directors 4.2 To ensure that the systems of internal controls 4.3 T) Inq∂rLe KjrLãJ KmnJV pgJpgnJPm VKbf yP~PZ 1.2 (ii) Independent Directors Appointment function properly and report any non-compliance 1.3 Chairman & Chief Executive of control issues and suggest improvement thereof. FmÄ fJr TJptJmuL xŒJhj TrPZ, fJ KjKÁf TrJ FmÄ 1.4 (a) Directors Report on Financial Statement FA oPot TKoKar TJPZ k´KfPmhj ßkvÇ 4.3 a) To ensure that the Internal Audit Department is 1.4 (b) Books of Accounts organized and function properly and report to the U) k´P~J\jJjMxJPr KmPvw KjrLãPer mqm˙J TrJ FmÄ fJ 1.4 (c) Accounting Policies 1.4 (d) IAS Applicable in Bangladesh Committee from time to time. kptJPuJYjJ TrJÇ 1.4 (e) System of Internal Control b) To request and review special audit which and 4.4 mKy: KjrLãTVe TftOT KjrLãJ xÄâJ∂ IjMxºJj 1.4 (f) Going Concern whenever it deems necessary. kptJPuJYjJ TrJ KmPvw TPr mqm˙JkjJ TftOkPãr 1.4 (g) Deviations in Operating Results 1.4 (h) Key Operating and Financial Data 4.4 To review the external auditors' findings arising KjPhtvjJr Ckr ßTJj o∂mq, mqJUqJ FmÄ VOyLf mqm˙JKh 1.4 (i) Declaration of Dividend from audits, particularly any comments and kptJPuJYjJ TrJÇ 1.4 (j) Number of Board Meetings 12 (twelve) meetings with average response in management letters and review the 4.5 Inq∂rLe S mKy: KjrLãTVPer TftOT Inq∂rLe Kj~πe 66.11% attendance action taken by the Management. k≠Kfr Cjú~j Kmw~T k´KfPmhj pJ IKca TKoKar Kj\˝ 1.4 (k) Pattern of Shareholdings 4.5 To recommend to the Board steps to improve the xnJ~ IJPuJKYf ymJr kr kKrYJujJ kwtPhr xnJ~ 2.1 Appointment of CFO, Company Secretary, Head of system of internal control derived from the findings xMkJKrv IJTJPr ßkv TrJÇ Internal Audit and defining their responsibilities 2.2 Board Meeting Attendance of the internal and external auditors' report and 4.6 IJAjVf KjrLãJ FmÄ KxKTCKrKa\ FéPY† TKovj 3.0 Audit Committee from the consultations of the Audit Committee itself. TftOT IJPrJKkf mJiqmJiTfJr mJAPrS mKy: KjrLãJr 3.1 (i) Composition of Audit Committee 4 Members 4.6 To assign any services to the external auditors other Ckr hJK~fô IkteÇ 3.1 (ii) Audit Committee Members Appointment than Statutory Audit and services restricted by SEC. 3.1 (iii) Terms of Service of Audit Committee 3.2 (i) Chairman of Audit Committee Directors’ Report Directors’ Report Directors’

32 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 33 TRUST US FOR LIFE TRUST US FOR LIFE

Compliance status Condition Explanation for Designation noncompliance/ No. Not Complied Complied comments 3.2 (ii) Audit Committee Chairman’s Qualification* 3.3.1 (i) Reporting to the Board of Directors 3.3.1 (ii) (a) Report of Conflicts of Interest None 3.3.1 (ii) (b) Defect in the Internal Control System No such case 3.3.1 (ii) (c) Suspected Infringements of Law No such case 3.3.1 (ii) (d) Any Other Matter No such case 3.3.2 Reporting to the Authorities No such case 3.4 Reporting to the Shareholders & General Investors No such case 4.0 (i) Appraisal or Valuation Services 4.0 (ii) Financial Information System 4.0 (iii) Book Keeping or Other Services 4.0 (iv) Broker Dealer Services 4.0 (v) Actuarial Services 4.0 (vi) Internal Audit Services 4.0 (vii) Any Other Services 5.0 Reporting the Compliance in the Director’s Report

*Masters in Transportation Management Past President, FBCCI Former Chairman, National Bank Ltd. Former Chairman, Bank Association of Bangladesh Chairman, Pragati Insurance Limtied and CEO, Multimode Group

SHAREHOLDING INFORMATION As December 31, 2008, the following shareholders are holding the Company’s issued ordinary share capital: SL. No. Name of Director, Company Secretary & CEO No. of Shares Total Percentage 1 Syed M. Altaf Hussain 23,950 23,950 3.19 2 Mr. A.S.M. Mohiuddin Monem 40,698 40,698 5.43 3 Mr. Abdul Awal Mintoo ------4 Mr. Tabith M. Awal 17,058 17,058 2.27 5 Mr. Salim Rahman 21,008 21,008 2.80 6 Mr. Zakaria Taher 17,058 17,058 2.27 7 Mr. A.K.M. Rafiqul Islam, FCA 5,014 5,014 0.67 8 Mr. Mabroor Hossain 31,208 31,208 4.16 9 Mr. Tafsir M Awal 17,058 17,058 2.27 10 Mrs. Nigar Jahan Chowdhury 21,008 21,008 2.80 11 Mr. Md. Fazlur Rahman 42,016 42,016 5.60 12 Mr. Md. Shafiur Rahman 21,008 21,008 2.80 13 Mr. Imam Shahed Hossain 2,000 2,000 0.27 14 Mrs. Nelofer Kamal 17,058 17,058 2.27 15 Prof. Parveen Lucy 2,000 2,000 0.27 16 Mr. Khalequzzaman Chowdhuri 17,058 17,058 2.27 17 Mr. M. Shefaque Ahmed, FSA, MAAA 6,000 6,000 0.80 18 CEO ------19 Company Secretary ------20 CFO ------21 Executives 1450 1450 0.19 22 Shareholders holding 10% or more voting rights ------23 National Bank Limtied 1,17,450 1,17,450 15.66 Directors’ Report Directors’

34 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 35 TRUST US FOR LIFE TRUST US FOR LIFE

Auditors’ Report to the Shareholders of Pragati Life Insurance Limited

We have audited the accompanying Balance Sheet of Pragati Life Insurance Limited as of December 31, 2008 and the related Revenue Account and Statement of Cash Flows for the year then ended. The preparation of these Financial Statements is the responsibility of the Company’s management. Our responsibility is to express an independent opinion on these Financial Statements based on our audit. We conducted our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, subject to the disclosures as per notes to Financial Statements, the financial statements prepared in accordance with applicable Bangladesh Accounting Standard (BAS), give a true and fair view of the state of the Company’s affairs as of December 31,2008 and of the results of its operations and its Cash Flows for the year then ended and comply with the Companies Act 1994, Insurance Act 1938, Insurance Rules 1958, the Securities Exchange Rules 1987 and other applicable laws and regulations. We also report that: i) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit and made due verification thereof; ii) In our opinion, proper books of account as required by law have been kept by the Company so far as it appeared from our examination of those books and (where applicable) proper returns adequate for the purposes of our audit have been received from branches not visited by us; iii) The Company’s Balance Sheet and Revenue Account and its Cash Flows dealt with by the report are in agreement with the books of account and returns; iv) The expenditure incurred was for the purposes of the Company’s business; v) As per section 40B (2) of the Insurance Act 1938 as amended, we certify that to the best of our knowledge and belief and according to the information and explanation given to us, all expenses of management wherever incurred and whether incurred directly or indirectly, in respect of life insurance business of the company transacted in Bangladesh during the year under report have been duly debited to the related Revenue Account as expenses; and vi) As per Regulation-II of Part-I of the Third Schedule of the Insurance Act 1938 as amended, we certify that to the best of our information and as shown by its books, the Company during the year under report has not paid any person any commission in any form outside Bangladesh in respect of any business re-insured abroad apart from commission arising out of the re-insurance treaties.

(Rahman Mustafiz Haq & Co.) Date: Dhaka, April 30, 2009 CHARTERED ACCOUNTANTS Auditors’ Report Auditors’

36 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 35 TRUST US FOR LIFE TRUST US FOR LIFE

Balance Sheet Balance Sheet As at Decembr 31, 2008 As at Decembr 31, 2008

CAPITAL & LIABILITIES NOTES 2008 2007 PROPERTY & ASSETS NOTES 2008 2007 TAKA TAKA TAKA TAKA

SHAREHOLDERS' CAPITAL: LOANS AUTHORIZED On Insurers' Policies within their surrender value 9.00 2,977,506 2,514,916 25,00,000 Ordinary Shares of Tk.100 each 250,000,000 250,000,000 INVESTMENT (AT COST) ISSUED, SUBSCRIBED & PAID-UP Statutory Deposit with Bangladesh Bank (NIB) 10.00 4,000,000 4,000,000 7,50,000 Ordinary Shares of Tk.100 each Bangladesh Govt. Treasury Bond 11.00 192,500,000 137,500,000 fully paid up in cash 4.00 75,000,000 75,000,000 Investment in Shares 12.00 340,397,436 86,387,665

BALANCE OF FUNDS & ACCOUNTS Agents' Balances 153,992 213,273 Life Insurance Fund 1,058,860,529 794,664,430 Outstanding Premium 13.00 167,359,728 190,619,281 Interest, Dividends and Rents Accruing but not Due 14.00 27,204,980 25,067,949 LIABILITIES AND PROVISIONS Advances, Deposits and Sundry Debtors 15.00 41,736,139 92,322,379 Estimated Liabilities in Respect of Outstanding Claims, Whether Due or Intimated 5.00 19,821,826 13,472,254 Amount due to Other Persons or Bodies Carrying on Insurance Business 6.00 13,092,748 5,548,473 CASH, BANK & OTHER BALANCES On Fixed Deposit with Banks 16.00 177,546,395 117,010,000 Sundry Creditors 7.00 53,636,811 67,118,054 On Short Term Deposit with Banks 115,072,963 76,192,632 On Current Account with Banks 85,148,683 73,613,538 Premium Deposits 2,903,008 3,547,242 Cash in Hand 11,630,782 3,006,718 Collection in Hand 17.00 16,759,446 104,063,875 Provision for Share Value Fluctuation A/C 8.00 30,248,198 - 406,158,269 373,886,763

Total 1,253,563,120 959,350,453 Stamps, Printing & Stationery in Hand 6,329,538 4,991,118 Fixed Assets (At Cost Less Depreciation) Sch.-1 64,745,532 41,847,109

Total 1,253,563,120 959,350,453

The annexed Notes 1 to 30 from an integral part of these Financial Statements

CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR

( Rahman Mustafiz Haq & Co. ) ( Rahman Mustafiz Haq & Co. ) Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Financial Statements Financial Statements Financial

38 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 39 TRUST US FOR LIFE TRUST US FOR LIFE

Revenue Account Revenue Account For the year ended December 31, 2008 For the year ended December 31, 2008

INCOME NOTES 2008 2007 EXPENDITURE NOTES 2008 2007 TAKA TAKA TAKA TAKA Balance of Life Fund at the beginning of the year 794,664,430 536,141,221 CLAIMS UNDER POLICIES (INCLUDING PREMIUM LESS RE-INSURANCE 19.00 PROVISION FOR CLAIMS DUE OR First Year Premium-IPL 141,062,355 85,102,540 INTIMATED), LESS RE-INSURANCE: 18.00 First Year Premium-PB 69,684,012 44,985,760 By Death 30,170,771 30,471,164 First Year Premium-IJB (Takaful) 37,801,608 26,202,899 By Maturity 12,369,928 6,745,890 First Year Premium-PIBD 28,667,116 14,722,313 By Disability 82,818 - First Year Premium-IDPS 45,305,500 29,994,527 By Surrender 1,351,087 713,029 322,520,591 201,008,039 By Survival Benefit 43,116,492 27,592,180 By Survival Profit 104,003 12,795 Renewal Premium-IPL 134,900,000 150,121,270 By Hospitalization 45,324,520 34,132,743 Renewal Premium-PB 125,694,160 93,691,848 132,519,619 99,667,801 Renewal Premium - IJB (Takaful) 7,787,198 8,201,390 Profit Commission 381,228 2,298,936 Renewal Premium-PIBD 15,696,301 6,762,934 132,900,847 101,966,737 Renewal Premium - IDPS 19,728,700 10,113,710 303,806,359 268,891,152 EXPENSES OF MANAGEMENT: Commissions: Group Insurance Premium-Life 59,883,684 61,049,584 a) Commissions to Insurance Agents Group Insurance Premium-Health 50,257,824 37,410,698 (Less that on Re-Insurance) 148,120,263 86,757,306 110,141,508 98,460,282 b) Allowances and Commission (Other than Gross Premium 736,468,458 568,359,473 Commission Including in sub-item (a) Preceding) 146,753,076 89,038,063 Less: Re-Insurance Premium 10,824,183 4,583,410 294,873,339 175,795,369 Net Premium 725,644,275 563,776,063 Interest, Dividends and Rents 20.00 166,970,893 113,534,310 Salaries etc. (Other than to Agents and those Other Income 21.00 3,571,230 853,747 Contained in the Allowance and Commission) 76,068,257 62,647,116 Total 1,690,850,828 1,214,305,341 Travelling and Conveyance 3,333,276 2,307,870 Directors' Fees 593,400 310,500 2008 2007 Auditors' Fees 125,000 100,000 TAKA TAKA Medical Fees 565,376 624,571 Legal & Professional Fees 797,895 395,810 First year premium, where the Insurance Policy Stamp 4,023,670 3,172,510 maximum premium paying period is: Single 14,323,605 16,016,682 Advertisement and Publicity 7,172,350 12,547,346 Two Years - - Printing and Stationery 5,304,737 2,832,822 Three Years - 1,670 Office Rent 19,865,813 14,849,172 Four Years 6,050 7,865 Bank Charges 3,096,859 2,038,401 Five Years 17,905 24,080 Repairs and Maintenance 1,786,433 971,962 Six Years 8,840 5,780 Car Fuel,Maintenance & Repairs 10,798,569 6,460,947 Seven Years 9,127,806 4,088,003 Group Insurance Premium 729,316 610,949 Eight Years 36,400 8,200 Hospitalization Insurance Premium 402,614 290,822 Nine Years 21,120 16,640 Papers,Periodicals and Books 277,635 237,957 Ten Years 110,670,727 62,980,505 Telephone, Fax and Internet 3,359,575 2,311,411 Eleven Years 772,219 1,069,000 Electricity & Utility Expenses 1,612,274 1,481,432 Twleve Years & Above 187,535,919 116,789,614 Training and Recruitment Expenses 315,118 406,635 Total 322,520,591 201,008,039

( Rahman Mustafiz Haq & Co. ) ( Rahman Mustafiz Haq & Co. ) Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Financial Statements Financial Statements Financial

40 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 41 TRUST US FOR LIFE TRUST US FOR LIFE

Revenue Account Form-"AA" For the year ended December 31, 2008 Classified Summary of the Assets in Bangladesh As at December 31,2008 EXPENDITURE NOTES 2008 2007 TAKA TAKA Class of Assets Book Value Remarks

Entertainment 2,223,685 1,412,282 General Insurance Premium 129,547 111,165 Investment: Postage and Courier 1,047,625 740,880 Statutory Deposit with Bangladesh Bank: National Investment Bond (NIB) 4,000,000 At cost Business Development Expenses 1,771,056 593,325 Bangladesh Govt. Treasury Bond 192,500,000 At cost Company Registration Fee 1,989,258 1,955,894 Investment in Shares 340,397,436 At Market Value Stamps & Forms 415,584 225,045 Loans (on Policies within their surrendar value) 2,977,506 Realizable value Fees,Subscriptions and Donation 640,240 401,273 Conference 1,822,913 2,432,518 Cash, Bank & Other Balances: AGM Expenses 1,621,387 1,017,228 On Fixed Deposit with Banks 177,546,395 Realizable on Maturity Meeting, Seminar & Symposium 1,262,023 847,839 Cash in Hand, STD & Current Account with Banks 211,852,428 Realizable Value Staff Welfare Expenses 42,105 37,034 Collection in Hand 16,759,446 Book Value Depreciation on Fixed Assets 13,274,325 8,506,089 Agents' Balances 153,992 Realizable value Interest, Dividends & Rents accrued but not due 27,204,980 Realizable value Transfer to Share Value Fluctuation A/C 30,248,198 - Dividend 7,500,000 9,000,000 204,216,113 141,878,805 Other Assets: 499,089,452 317,674,174 Stamps, Printing & Stationery in Hand 6,329,538 At Cost Outstanding Premium 167,359,728 Realizable Value Balance of the fund at the end of the Advances, Deposits, Loans & Sundry Debtors 41,736,139 Realizable Value year as shown in the Balance Sheet 1,058,860,529 794,664,430 Fixed Assets (At cost less depreciation) 64,745,532 Depreciated Value Total 1,690,850,828 1,214,305,341 Taka 1,253,563,120

The annexed Notes 1 to 30 from an integral part of these Financial Statements

CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR

( Rahman Mustafiz Haq & Co. ) ( Rahman Mustafiz Haq & Co. ) Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Financial Statements Financial Statements Financial

42 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 43 TRUST US FOR LIFE TRUST US FOR LIFE

Statement of Life Insurance Fund Statement of Cash Flow As Per Sub -Section-2 of Section-10 of Insurance Act 1938 For the year ended December 31, 2008 As at December 31, 2008 “Annexure-I”

Particulars TAKA TAKA Particulars 2008 2007 TAKA TAKA Assets: Loans- on Policies within their surrendar Value 2,977,506 A. CASH FLOW FROM OPERATING ACTIVITIES: Investment- National Investment Bond (NIB) 4,000,000 Collection from premium 759,728,011 516,591,202 Investment- Bangladesh Govt.Treasury Bond 192,500,000 Other Income received 373,463 403,747 Investment in Shares 340,397,436 Payment for Claims (126,551,275) (107,785,025) Agents' Balance 153,992 Payment for managent expenses, commission, re-insurance & others (415,347,457) (414,874,536) Outstanding Premium 167,359,728 Source Tax (Income Tax) deducted (2,163,219) (2,590,132) Interest, Dividends & Rents accrued but not due 27,204,980 Net cash flow from operating activities 216,039,523 (8,254,744) Advances, Deposits & Sundry Debtors 41,736,139 Cash & Bank Balances 406,158,269 Stamps, Printing and Stationery in hand 6,329,538 B. CASH FLOW FROM INVESTING ACTIVITIES: Fixed Assets (at cost less depreciation) 64,745,532 Acquisition of Fixed Assets (36,364,768) (23,899,707) 1,253,563,120 Disposal of Fixed Assets 3,389,787 4,50,000 Less: Liabilities Loan against Policies paid(Net of Realiazation) (462,590) (160,682) Amount due to Other Persons or Bodies Investments made (309,009,771) (142,456,365) Carrying on insurance business 13,092,748 Interest, Dividends and Rents Received 164,833,862 111,757,880 Estimated liabilities in respect of Net Cash Flow from investing activities (177,613,480) (54,308,874) Outstanding Claim whether due or intimated 19,821,826 Sundry Creditors 53,636,811 C. CASH FLOW FROM FINANCING ACTIVITIES: Premium Deposits 2,903,008 Dividend Paid (6,089,511) (8,715,056) Provision for Share Value Fluctuation A/C 30,248,198 Exces subscription against IPO refunded (65,026) (400,050) 119,702,591 Net Cash Flow from financing activities (6,154,537) (9,115,106) Gross Fund 1,133,860,529 Less: Shareholders' Capital (Paid-up Capital) 75,000,000 D. Net increase in cash and cash equivalents (A+B+C) 32,271,506 (71,678,724) Life Insurance Fund as on December 31,2008 1,058,860,529 E. Cash and Cash Equivalents at the beginning of the year 373,886,763 445,565,487

Note: Accretion to Life Insurance Fund during the year was Tk. 264,196,099. F. Cash and Cash Equivalents at the end of the year (D + E) 406,158,269 373,886,763

CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR

( Rahman Mustafiz Haq & Co. ) ( Rahman Mustafiz Haq & Co. ) Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Financial Statements Financial Statements Financial

44 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 45 TRUST US FOR LIFE TRUST US FOR LIFE

c) Reinsurance recoveries against outstanding claims. Notes to the Financial Statements d) Provision for income taxes. For the year ended December 31, 2008 However, assumptions and judgment made by management in the application of accounting policies that have significant effect on the financial statement are not expected to result in material adjustment to the 1.00 LEGAL STATUS AND NATURE OF BUSINESS carrying amount of assets and liabilities in the next year. 1.01 Status 2.05 Reporting period Pragati Life Insurance Limited is a third generation life insurance company established on 30th January 2000 The financial period of the company covers one year from January 1 to December 31 of the calendar year and as a public limited company under the Companies Act 1994 and registered under the Department of is followed consistently. Insurance on 11th April 2000 under the Insurance Act 1938. The Company went for public issue in November 2005 and its shares are listed in both Dhaka Stock Exchange Ltd. and Chittagong Stock Exchanges Ltd. 2.06 Components of the Financial Statements The Financial Statements include the following components: The registered office of the Company is situated at Pragati RPR Center (6th Floor), 20-21 Kawran Bazar, Dhaka-1215. a) Balance Sheet, b) Revenue Account, c) Cash Flow Statement d) Accounting policies and explanatory notes. 1.02 Nature of Business The Company is engaged in the life insurance business since its incorporation. The Company offers a wide 2.07 Impairment variety of insurance products which fulfils the requirements of all segments of the society. The product The carrying amounts of the Company’s assets are reviewed at each balance sheet date to determine whether portfolio of the Company feeds the following insurance lines: there is any indication of impairment. If such indication exists the asset recoverable amount is estimated. An impairment loss is recognized wherever the carrying amount of the asset exceeds it recoverable amount. a) Individual Life Insurance, b) Group Insurance, c) Overseas Medical Insurance (OMI), d) Health Insurance, e) Non-traditional Micro-Insurance (Rural Insurance), f) Islami Jibon Bima (Takaful), g) Islami Deposit pension 3.00 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES scheme (IDPS). The accounting policies set out below have been applied consistently to all periods presented in these financial statements. 2.00 BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE 3.01 Revenue Recognitions 2.01 Statement of Compliance The basis of presentation and disclosures of information are based on the relevant and applicable 3.1.1 Premium requirements of the: 3.1.1.1 Individual life policies Insurance Act, 1938, First year premium is recognized when premium is received and the relevant policy is issued. Subsequent Companies Act, 1994, premium falling due under the policy is recognized as Renewal premium. Securities and Exchange Commission (SEC) Rules, 1987, Premiums due and outstanding in the month of December for which grace period are to expire and previous Listing Regulations of Dhaka and Chittagong Stock Exchanges and installments have been paid are also recognized on conservative basis as Renewal premium. Bangladesh Accounting Standards (BAS). 3.1.1.2 Group policies 2.02 Basis of Presentation The premiums of Group policies are recorded after receipt of the premiums and in certain circumstances Financial Statements have been prepared on the historical cost basis except as disclosed in the accounting premiums falling due under the policies within the financial period are also recognized if these premiums are policies mentioned below. subsequently received. 2.03 Reporting currency and level of precision 3.1.2 Investments – Interest, Dividends and Rents The financial statements are prepared in Bangladeshi Taka, which is the Company’s functional currency. All Interest, dividends and rents etc. are accounted at gross value (before deduction of Income Tax) financial information presented has been rounded off to the nearest taka. Figures in brackets indicate Investments in Government securities-National Investment Bond (NIB), Bangladesh Government Treasury deduction. Bond (BGTB) and Fixed Deposit Receipt (FDR) are stated at face values and investment in Shares are stated at 2.04 Use of estimates and judgment their cost of acquisition with adequate provision for fluctuation in share price on the basis of the year-end all The preparation of financial statements requires management to make judgments, estimates and share price index of Dhaka Stock Exchange (DSE). assumptions that effect the application of accounting policies and the reported amount of assets, liabilities, Interest incomes on investments are recognized on accrual basis for the number of days these are held taking income and expenses. into account effective yield on the instruments. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting Dividend income is accounted for when the dividend is received. estimates are recognized in the period in which the estimates are revised. The areas where required assumptions and estimates are significant to the Company’s financial statements or where Judgment was Profit/ (loss) arising on the sale of listed equity shares is recognized on the basis of the settlement date. exercised in application of accounting policies are as follows: Loans against the security of life insurance polices are allowed to the policyholders to the extent of 90% of a) Useful life of depreciable assets. surrender value of the respective policy provided the policy has been in force for not less than two years. b) Impairment of assets. Interest on policy loans is accounted on cash basis. Notes to the Financial Statements the Financial to Notes Statements the Financial to Notes

46 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 47 TRUST US FOR LIFE TRUST US FOR LIFE

3.02 Re-insurance 3.08 Claims The company maintains reinsurance arrangement with Munich Reinsurance company, Germany since its Claims costs consist of the policy benefit amount and claims settlement costs, where applicable. inception. The net retention of the company for individual life is Tk. 2.0 lac per policy and for Group life Tk. 7.0 Claims by maturity and survival are recorded when these become due for payment. lac per person of risk. Reinsurance premium is recorded as an expense evenly over the period of the Death claims are accounted for when intimated. reinsurance contact and off-set against the premium income of respective year. Group Insurance claims are paid according to the terms and policy of the individual agreement. The claim recoveries arising out of reinsurance contracts are off-set against the claims expenses of respective year. Provision for outstanding death claims less any reinsurance thereof is made for those policies where the 3.03 Recognition of Fixed Assets - Tangible intimation of death has been received up to December 31, 2008. These are capitalized at cost of acquisition and subsequently stated at cost less accumulated depreciation and 3.09 Premium Deposits impairment losses. Premium deposit represents receipts in advance which cannot be appropriated towards premium before 3.04 Depreciation on Fixed Assets - Tangible taking the underwriting decision and hence policies were not issued/ adjusted within December 31, 2008. Depreciation is calculated on straight-line method to write off the assets over their expected useful lives. 3.10 Provisions Depreciation on additions made during the year is charged from the following month in which the new assets A provision is recognized on the Balance Sheet date if, as a result of past events, the company has a present are acquired. legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic Depreciation on disposal of assets is made up to the month prior to the disposal. benefits will be required to settle the obligation. Gains and losses on disposal of Fixed Assets are included in current year’s income and expenses respectively. 3.11 Cash Flow Statement Major repairs and renewals are capitalized in the year in which these are incurred. Cash Flow Statement has been prepared on direct method in accordance with BAS-7. Methods and rates of computing depreciations are consistently applied. Cash flows from operating activities have been presented under direct method. The annual depreciation rates applied to the principal categories of assets are as follows: Cash and cash equivalents comprise cash in hand, cash at banks including FDR, which were held available for use of the company without any restriction and it also includes collection in hand which were collected in full. Category of Assets Rate of Depreciation 3.12 Contingencies Contingencies arising from claim, litigation, assessment, fines, penalties, etc. are recorded when it is probable Furniture & Fixture 10% and (20% for signboards only) that a liability has been incurred and the amount can reasonably be measured. Electrical & office Equipment 20% and 15% Vehicles 20% 3.13 Employees Benefit Plans Computer 20% Other Equipment 20% 3.13.1 Provident Fund The company operates a recognized contributory provident fund for all its permanent employees. The provident fund is administered by the Board of Trustee and is funded by contributions from employees and 3.05 Stamps, printing and stationary in hand from the company @ 10% of the basic pay. These contributions are invested separately from the company’s Stocks of stamps, printing and stationary materials etc in hand are valued at cost determined on average basis. business. 3.06 Taxation 3.13.2 Gratuity i) The Company is engaged in life insurance business and its taxation is based on taxable income determined The company has an unfunded gratuity scheme for all its permanent employees under which an employee is under the Fourth Schedule of the Income Tax ordinance 1984. entitled to the benefit depending on length of services with the company. ii) No provision for tax has been made during the year as the Company has sufficient assessed loss to carry over. 3.13.3 Group & Health Insurance iii) As the profits and gains of the insurance business from all sources are to be computed in accordance with The company operates Group and Health insurance schemes for its permanent employees. Defined benefits the provision in the fourth schedule of the income Tax Ordinance and not under different heads of income, the are provided to cover employees at death, hospitalization, accident and incapacitation. management feels it is not necessary to make estimate of deferred tax assets/liabilities at this stage as per the 3.14 Life Insurance Fund provision of BAS-12. The balance of Life Insurance Fund as at December 31, 2008 stands at Tk. 1,058,860,529 with an accretion 3.07 Commission during the year amounting to Tk. 264,196,099. These are cost incurred in acquiring and maintaining insurance policies. Commission to insurance agents (less that on re-insurance) is classified under First Year Commission, Renewal commission and Group business commission. Allowance and Commission (other than commission to insurance agents) represent all forms of remuneration and incentives paid to certain development officers, field force staff and insurance agents. Notes to the Financial Statements the Financial to Notes Statements the Financial to Notes

48 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 49 TRUST US FOR LIFE TRUST US FOR LIFE

4.00 Issued, Subscribed & Paid up-Share Capital:Tk.75,000,000 7.00 Sundry Creditors: Tk. 53,636,811 The above balance is made up as follows: 2008 2007 Particulars Note 2008 2007 750,000 ordinary shares of Tk 100 each fully paid in cash 75,000,000 75,000,000 Taka 75,000,000 75,000,000 Auditors’ Fee 7.01 235,400 210,400 Tax and VAT 7.02 133,965 393,463 Insurance Policy Stamp 1,027,620 1,072,620 4.01 Classification of Shareholders by holding as on December 31, 2008 License Stamp 2,859,271 1,758,156 Commission & Allowance 7.03 34,731,076 53,822,742 Group No. of Shares Percentage (%) Utility Bills 7.04 218,646 166,108 2008 2007 2008 2007 Staff Salary & Allowances 424,667 477,500 i) Sponsor Office Rent 7.05 379,300 689,440 a. Local 300,000 300,000 40.00 40.00 Other Deposits (Short Deposit) 68,354 38,202 b. Foreign - - - - Advance against ID Card 7,900 6,300 ii) General Public 211,788 229,900 28.24 30.65 Other Liabilities 68,639 68,639 iii) Institutions 238,212 220,100 31.76 29.35 Insurance Funds 5,045,990 3,149,195 Total 750,000 750,000 100.00 100.00 Employees Provident Fund 1,032,254 592,039 Group Endowment Scheme Payable 27,475 27,475 4.02 Distribution Schedule of Shareholdings Security Deposit-Employee 3,038,000 1,495,000 Share Application Money Deposit 2,316,255 2,381,281 Shareholding Range No. of Shareholders No. of Shares Percentage (%) SIDR - 237,984 As on December 31 2008 2007 2008 2007 2008 2007 Security Deposit-Supplier 203,000 123,000 Unpaid Dividend 7.06 1,695,433 284,944 1-499 634 988 44,438 84,000 5.92 11.20 Unidentified Deposits 123,566 123,566 500-999 32 52 21,700 33,800 2.89 4.51 Taka 53,636,811 67,118,054 1000-1999 19 25 23,100 29,850 3.08 3.98 2000-2999 7 5 15,050 11,100 2.01 1.48 3000-3999 2 3 6,500 10,250 0.87 1.37 7.01 Auditors’ Fee: TK. 235,400 4000-4999 4 3 17,850 13,100 2.38 1.75 The above balance is made up as follows: 5000 and above 34 31 621,362 567,900 82.85 75.71 Total 732 1,107 750,000 750,000 100.00 100.00 Particulars 2008 2007

5.00 Estimated Liabilities in Respect of Outstanding Claims Whether Special Audit 160,400 160,400 Due or Intimated: Tk. 19,821,826 External Audit 75,000 50,000 Taka 235,400 210,400 The above balance is made up as follows:

Particulars 2008 2007 7.02 Income Tax (IT) and VAT: Tk. 133,965 The above balance is made up as follows: Opening balance as on 01-01-2008 13,472,254 19,290,542 Add: Addition during the year 22,609,592 31,275,811 Particulars 2008 2007 36,081,846 50,566,353 Less : Paid/Adjusted during the year 16,260,020 37,094,099 i) IT -Employee Salaries 10,270 60,438 Taka 19,821,826 13,472,254 ii) IT -Rent - 6,924 iii) VAT -Suppliers 63,415 40,733 iv) IT -Commission 58,600 160,190 6.00 Amount Due to Other Persons or Bodies Carrying on v) IT -Supplier 1,680 125,178 Insurance Business: Tk.13,092,748 Taka 133,965 393,463 The above balance is made up as follows: IT and VAT deducted at source have been paid subsequently. Particulars 2008 2007

Munich Reinsurance Company 13,091,709 5,539,756 Shadharan Bima Corporation 1,039 8,717 Taka 13,092,748 5,548,473 Notes to the Financial Statements the Financial to Notes Statements the Financial to Notes

50 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 51 TRUST US FOR LIFE TRUST US FOR LIFE

7.03 Commission & Allowances: Tk. 34,731,076 10.00 Investment in Statutory Deposit with Bangladesh Bank: Tk. 4,000,000 The above balance is made up as follows: In compliance with section 7(1) of Insurance Act,1938, the amount has been deposited into Bangladesh Bank for which the Bank has issued 3 years National Investment Bond (NIB) in favour of the Company with interest Particulars 2008 2007 @ 8.50% per annum subject to renewal for future term. Interest earned and received during the year has been duly accounted for. Commission-IPL 16,757,226 29,191,492 Development Allowance-PB 9,200,000 20,163,900 Development Salary-PB 220,000 522,842 11.00 Investment in Bangladesh Govt. Treasury Bond (BGTB): Tk. 192,500,000 Development Salary/Release-IPL 950,980 765,258 The above balance is made up as follows: Development Salary-IDPS 7,031,270 3,108,149 Sl. No. Opening Date Maturity Date BGTB No. 2008 2007 Development Allowance-IDPS 571,600 71,101 Taka 34,731,076 53,822,742 01 01.09.2004 07.06.2014 BDH000000103 5,000,000 5,000,000 02 03.02.2005 06.12.2014 BDH000000426 6,000,000 6,000,000 7.04 Utility Bills: Tk. 218,646 03 07.03.2005 06.12.2014 BDH000000426 4,000,000 4,000,000 The above balance is made up as follows: 04 05.05.2005 04.04.2015 BDH000000707 10,000,000 10,000,000 05 18.05.2005 04.04.2015 BDH000000707 2,000,000 2,000,000 Particulars 2008 2007 06 18.08.2005 18.08.2015 BDH000000707 1,000,000 1,000,000 Electricity 127,464 100,572 07 16.11.2005 16.11.2015 BDH000000624 10,000,000 10,000,000 WASA 30,497 30,461 08 26.01.2006 26.01.2016 BDH000000939 7,500,000 7,500,000 Telephone 60,685 35,075 09 14.05.2006 14.05.2016 BDH000000970 10,000,000 10,000,000 Taka 218,646 166,108 10 23.07.2006 23.07.2016 BDH000001069 4,000,000 4,000,000 11 04.11.2006 04.11.2016 BDH000001424 8,000,000 8,000,000 The above amount have been subsequently paid in full. 12 10.01.2007 10.01.2017 BDH000001762 15,000,000 15,000,000 13 10.01.2007 10.01.2017 BDH000001762 5,000,000 5,000,000 7.05 Office Rent: Tk. 379,300 14 05.12.2007 05.12.2017 BDH000002265 50,000,000 50,000,000 The above balance is made up as follows: 15 03.09.2008 03.09.2018 BDH000002356 20,000,000 - 16 05.11.2008 05.11.2018 BDH000002372 35,000,000 - Particulars 2008 2007 Taka 192,500,000 137,500,000 Office Rent-PB - 301,600 Office Rent-IPL 379,300 210,790 12.00 Investment in Shares: Tk. 340,397,436 Office Rent-IDPS - 177,050 The above balance is made up as follows: Taka 379,300 689,440 Number *Average Cost Total Book **Average Market Total Market Sl. Name of the Company No. of per unit (TK.) Value at Cost Value per unit Value (TK.) 7.06 Unpaid Dividend: Tk. 1,695,433 Share (TK.) as on 31-12-08 The above balance is made up as follows: 1 AB Bank Limited 7,610 1,850.99 14,086,021.56 822.25 6,257,322.50 This represents balance of unpaid dividend of the following years 2 Aims First Mutual Fund 107,500 15.57 1,674,097.08 14.07 1,512,525.00 Particulars 2008 2007 3 Al Arafa Islami Bank Limited 3,860 468.02 1,806,541.45 444.25 1,714,805.00 4 Apex Footware Limited 80 3,554.32 284,345.49 2,385.00 190,800.00 Year - 2006 210,373 284,944 5 Apex Tannery Limited 1,960 977.56 1,916,021.26 901.75 1,767,430.00 Year - 2007 1,485,060 6 BATBCL 11,200 198.06 2,218,257.40 201.60 2,257,920.00 Taka 1,695,433 284,944 7 Bank Asia Limited 20 - - 220.00 4,400.00 8 Brac Bank Limited 12,172 1,061.66 12,922,562.24 828.00 10,078,416.00 9 BIFC 1,050 411.56 432,136.26 322.00 338,100.00 8.00 Provision for Share Value Fluctuation A/C: Tk.30,248,198 10 Confidance Cement 42,080 470.74 19,808,694.70 318.25 13,391,960.00 The all share price index of DSE was Tk. 2,309.35 on December 30,2008.The total market value of the shares at 11 Delta Brac Housing Limited 30 1,348.00 40,440.10 1,370.00 41,100.00 the price index stood at Tk. 310,149,238 against the book value of Tk.340,397,436. Accordingly a provision for 12 Eastern Cables Limited 200 758.03 151,605.73 571.00 114,200.00 share value fluctuation amounting to Tk. 30,248,198 has been made on the basis of the share price index as 13 Exim Bank Limited 2,800 361.82 1,013,096.30 323.50 905,800.00 prevailed on December 30,2008.The profit or loss on sale of shares is based on cost. 14 East Land Insurance Limited 1,720 1,099.54 1,891,202.24 1,014.50 1,744,940.00 15 Eastern Housing Limited 5,520 269.84 1,489,529.37 245.75 1,356,540.00 9.00 Loans (On Insurers' Polices within their Surrender Value) : Tk. 2,977,506 16 Farest Islami Life Insurance Limited 19,184 2,583.10 49,554,165.63 2,637.50 50,597,800.00 The above balance is made up as follows: 17 Grameen Mutual Fund One 14,000 129.15 1,808,102.11 87.40 1,223,600.00 Particulars 2008 2007 18 Green Delta Insurance Limited 5,800 2,303.33 13,359,322.52 1,982.00 11,495,600.00 19 Heidelberg Cement Bangladesh Ltd. 1,100 1,583.85 1,742,230.38 1,214.00 1,335,400.00 Policy Loan (IPL) 1,667,668 1,350,577 20 IBBL Bond 4,890 1,077.22 5,267,599.82 921.25 4,504,912.50 Policy Loan (PB) 1,309,838 1,164,339 21 ICB AMCL 1st Mutual Fund 11,700 520.78 6,093,085.24 279.25 3,267,225.00 Taka 2,977,506 2,514,916 22 ICB AMCL Islamic Mutual Fund 3,850 479.54 1,846,229.96 276.75 1,065,487.50 Notes to the Financial Statements the Financial to Notes Statements the Financial to Notes

52 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 53 TRUST US FOR LIFE TRUST US FOR LIFE

Number *Average Cost Total Book **Average Market Total Market 14.00 Interest, Dividends and Rents Accruing but not Due: Tk. 27,204,980 Sl. Name of the Company No. of per unit (TK.) Value at Cost Value per unit Value (TK.) The above balance is made up as follows: Share (TK.) as on 31-12-08 Particulars Note 2008 2007 23 IPDC 2,550 503.52 1,283,986.57 413.00 1,053,150.00 24 ICB Islami Bank Limited 600 1,003.66 602,194.38 1,219.25 731,550.00 Interest on Fixed Deposit Receipt (FDR) 14.01 20,947,849 20,732,412 25 Lafarge Surma Cement Limited 17,700 580.07 10,267,300.45 513.00 9,080,100.00 Interest on National Investment Bond (NIB) 14.02 867,233 527,233 26 Lanka Bangla Finance Limited 800 165.06 132,045.55 196.60 157,280.00 Interest on Bangladesh Government Treasury Bond (BGTB) 4,810,172 3,628,578 27 Meghna Life Insurance Limited 21,700 2,317.54 50,290,666.43 2,032.75 44,110,675.00 Interest on term loan to Jamuna Resort 579,726 179,726 28 National Life Insurance Limited 265 4,749.84 1,258,707.07 3,991.00 1,057,615.00 Taka 27,204,980 25,067,949 29 National Bank Limited 8,780 1,034.69 9,084,616.80 1,014.25 8,905,115.00 NCC Bank Limited 9,050 399.67 3,617,045.49 365.75 3,310,037.50 30 14.01 Interest on FDR: Tk. 20,947,849 One Bank Limited 3,112 407.24 1,267,331.87 333.00 1,036,296.00 31 The above balance is made up as follows: 32 Power Grid Bangladesh Limited 29,900 593.85 17,756,248.86 579.50 17,327,050.00 33 Pragati Insurance Limited 24,236 760.99 18,443,344.77 1,015.50 24,611,658.00 Particulars 2008 2007 34 Premier Bank Limited 300 319.71 95,914.05 253.25 75,975.00 35 Prime Bank Limited 7,200 624.95 4,499,658.55 539.75 3,886,200.00 Opening balance as on 01.01.2008 20,732,412 21,708,373 36 Prime Finance 4,960 965.70 4,789,851.91 1,105.50 5,483,280.00 Add : Interest accrued during the year 12,644,083 16,273,797 37 Prime Life Insurance Limited 16,650 1,983.02 33,017,311.97 2,014.75 33,545,587.50 33,376,495 37,982,170 38 Padma Oil 200 1,757.15 351,429.62 1,436.60 287,320.00 Less : Received during the year 12,428,646 17,249,758 39 People Insurance Limited 550 1,132.53 622,889.19 565.75 361,212.50 Taka 20,947,849 20,732,412 40 Paramount Insurance Limited 6,000 194.87 1,169,212.23 158.50 951,000.00 41 People's Leasing Co. Ltd. 2,575 394.71 1,016,376.19 334.00 860,050.00 14.02 Interest on NIB: Tk. 867,233 42 Rangpur Foundry Ltd. 106,500 74.85 7,971,280.75 71.20 7,582,800.00 The above balance is made up as follows: 43 S.Alam CRC Steel Mills Ltd. 8,650 319.91 2,767,189.49 337.00 2,915,050.00 44 Square Pharma Ltd. 1,961 3,759.10 7,371,599.75 3,151.25 6,179,601.25 Particulars 2008 2007 45 Shajalal Islami Bank Limited 22,750 325.02 7,394,275.14 311.25 7,080,937.50 46 Social Investment Bank Limited 70 399.52 27,966.14 215.00 15,050.00 Opening balance as on 01.01.2008 527,233 187,233 47 Standard Bank Limited 4,598 257.70 1,184,883.32 227.25 1,044,895.50 Add : Interest accrued during the year 340,000 340,000 48 Summit Port 50 914.76 45,738.02 877.00 43,850.00 867,233 527,233 49 Summit Power Ltd. 71 719.90 51,113.06 966.50 68,621.50 Less : Received during the year - - 50 Titas Gas Transmission & Distribution Ltd 9,800 508.08 4,979,136.75 499.25 4,892,650.00 Taka 867,233 527,233 51 United Commercial Bank Ltd. 719 4,682.06 3,366,402.96 3,190.00 2,293,610.00 52 Union Capital 700 120.62 84,437.34 116.00 81,200.00 15.00 Advances, Deposits, Loans and Sundry Debtors: Tk. 41,736,139 53 United Leasing Co. Ltd. 200 1,038.53 207,706.53 556.00 111,200.00 The above balance is made up as follows: 54 Uttara Finance and Investment Ltd. 6,450 771.21 4,974,288.38 750.75 4,842,337.50 55 CDBL 1 1,000,000 1,000,000.00 1,000,000.00 1,000,000.00 Particulars Note 2008 2007 Total: 577,974 340,397,436 310,149,238 Advance Income Tax 15.01 9,315,498 7,152,279 * Total book value at cost has been divided by the number of unit. Tax Refund Due 15.02 1,783,600 1,783,600 ** The total market value (as per price index of DSE) of the above shares as on December 30,2008 stood at Tk. Advance against Office Rent 15.03 2,833,669 1,239,264 310,149,238 against the book value of Tk. 340,397,436. Provision for fluctuation in the above book value has Advance against Development Salary 1,584,383 2,991,002 been made as stated in Note # 8.00. Advance for Purchases of Furniture 126,669 126,669 Security Deposit 68,660 68,660 13.00 Outstanding Premium: Tk. 167,359,728 Advance against Mobile Phone 87,360 87,679 The above balance is made up as follows: Advance against Expenses 210,566 302,000 Advance against Salary 64,381 39,982 Particulars 2008 2007 Short Term Loan 15.04 2,500,000 2,500,000 Bi-Cycle Loan 842,401 870,709 Outstanding Premium - IPL 97,594,440 116,960,260 Motor Cycle Loan 3,586,598 3,249,402 Outstanding Premium - PB 40,215,447 40,970,149 Advance Commission (Group) 100,000 100,000 Postal Security 13,662 28,539 Outstanding Premium - Group Life 252,065 1,444,887 Jamuna Resort Ltd. 15.05 8,686,000 8,686,000 Outstanding Premium - Group Health 847,039 1,796,264 Advance against Land Purchases 15.06 500,000 - Outstanding Premium -Takaful 7,747,769 7,454,357 Other Receivables 336,746 441,102 Outstanding Premium -IDPS 20,702,968 21,993,364 Eminent Securities Ltd. 15.07 8,317,128 59,039,622 Taka 167,359,728 190,619,281 Multi Securities Ltd. 713,769 3,605,870 Sundry Advances 65,049 10,000 The amount represents premium receivable as on December 31,2008 for which grace periods did not expire Total 41,736,139 92,322,379 as on the above date. Most of the outstanding premium amount have been realized subsequently. Notes to the Financial Statements the Financial to Notes Statements the Financial to Notes

54 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 55 TRUST US FOR LIFE TRUST US FOR LIFE

15.01 Advance Income Tax : Tk. 9,315,498 15.07 Eminent Securities Ltd. : Tk. 8,317,128 The above balance is made up as follows: This balance represents money lying with the brokerage house at the end of routine and normal investment activities in shares as at December 30,2008. Particulars 2008 2007 Particulars 2008 2007 FDR 3,861,038 2,972,246 STD 2,373,332 2,065,943 Eminent Securities Ltd. 8,317,128 59,039,622 NIB 306,000 306,000 BGTB 2,303,500 1,657,500 Taka 8,317,128 59,039,622 Dividend 471,628 150,590 Taka 9,315,498 7,152,279 16.00 Fixed Deposit with Banks (FDR): Tk. 177,546,395 15.02 Income Tax Refund Due: Tk. 1,783,600 The above balance is made up as follows: The above balance is made up as follows: Name of Bank's 2008 2007 Particulars 2008 2007 NCC Bank Ltd. 10,000,000 30,000,000 Income Tax Refund Due 1,783,600 1,783,600 Mutual Trust Bank Limited 22,000,000 2,000,000 Taka 1,783,600 1,783,600 One Bank Ltd. 21,142,650 18,510,000 Premier Bank Limited 6,757,587 5,000,000 This represents net income tax refundable to the Company for the assessment years upto 2006-2007 as per tax assessment orders to the Company. The assessments of the income tax of the Company for the assessment years 2007-2008 and Shahjalal Bank Limited 10,000,000 10,000,000 2008-2009 are in progress. Dutch Bangla Bank Ltd. 10,000,000 24,000,000 United Commercial Bank Ltd. 11,082,021 10,000,000 15.03 Advance Against Office Rent: Tk. 2,833,669 ICB Islami Bank Ltd. 4,000,000 5,000,000 The above balance is made up as follows: Lanka Bangla Finance & Investment Ltd. 5,000,000 5,000,000 Exim Bank Ltd. 5,000,000 5,000,000 Particulars 2008 2007 Southeast Bank Ltd. 32,564,137 2,500,000 Opening balance as on 01-01-2008 1,239,264 987,570 BRAC Bank Ltd. 10,000,000 - Add: Advance paid during the year 4,162,885 1,710,410 Prime Bank Ltd. 5,000,000 - 5,402,149 2,697,980 Bank Al-Falah Ltd. 25,000,000 - Less: Adjustment during the year 2,568,480 1,458,716 Taka 177,546,395 117,010,000 Taka 2,833,669 1,239,264 17.00 Collection in Hand: Tk. 16,759,446 15.04 Short Term Loan: Tk. 2,500,000 The above balance is made up as follows: The above balance is made up as follows: Particulars 2008 2007 Particulars 2008 2007 Jamuna Resort Ltd. 2,500,000 2,500,000 Collection in Hand 16,759,446 104,063,875

Taka 2,500,000 2,500,000 Taka 16,759,446 104,063,875

This represents short-term loan paid to Jamuna Resort Ltd. @ 16% interest per annum. Provision for accrued interest has This represents premium collection by different servicing cells and agency offices during the year but lying in been made. hand as of December 31,2008. Entire of the amount was deposited in to banks subsequently. 15.05 Advance to Jamuna Resort Ltd.: Tk. 8,686,000 The above balance is made up as follows: 18.00 Claims Under Policies (Including Provision for Claims due or Intimated) Less Re-Insurance: Tk. 132,900,847 Particulars 2008 2007 The above balance is made up as follows: Advance to Jamuna Resort Ltd. 8,686,000 8,686,000 Particulars 2008 2007 Taka 8,686,000 8,686,000

This represents advance against the equity participation in the capital of the Company. Gross Claim 132,764,819 100,142,801 Less : Re-Insurance Claim 245,200 475,000 15.06 Advance against Land Purchases: Tk. 500,000 Net Claim 132,519,619 99,667,801 The above balance is made up as follows: Add: Profit Commission 381,228 2,298,936 Taka 132,900,847 101,966,737 Particulars 2008 2007 Advance against Land Purchases 500,000 - Taka 500,000 -

This represents advance paid to Jamuna Resort Ltd. for purchase a plot of land. Notes to the Financial Statements the Financial to Notes Statements the Financial to Notes

56 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 57 TRUST US FOR LIFE TRUST US FOR LIFE

19.00 Premium Less Re-insurance (Net): Tk. 725,644,275 22.00 Payments/ Perquisites to Directors and Officers The above balance is made up as follows: The aggregate amount paid/ provided during the year in respect of 'Directors' and 'Officers' of the Company are as follows: Type of Premiums Gross Re-Insurance Net Premium Net Premium Particulars 2008 2007 Premium Ceded 2008 2007 Directors Officers Directors Officers

Individual Product Line (IPL) 1st year 141,062,355 392,748 140,669,607 84,734,820 Board and Committee meeting Fees 593,400 310,500 Individual Product Line (IPL) Renewal 134,900,000 611,047 134,288,953 149,633,091 Basic Salary - 15,388,608 - 12,008,667 Pragati Bima (PB) 1st year 69,684,012 69,684,012 44,982,682 Provident Fund - 2,278,310 - 1,902,621 Pragati Bima (PB) Renewal 125,694,160 125,694,160 93,691,848 House Rent - 7,979,560 - 6,566,757 Group Life 59,883,684 9,819,349 50,064,335 57,370,296 Others allowance - 50,421,779 - 42,169,071 Group Hospitalization 50,257,824 1,039 50,256,785 37,365,553 Taka 593,400 76,068,257 310,500 62,647,116 Islami Jibon Bima-Takaful, 1st year 37,801,608 37,801,608 26,202,899 i) No compensation/ other allowance/ commission was allowed to Directors including Managing Director, Islami Jibon Bima-Takaful,Renewal 7,787,198 7,787,198 8,201,390 Managers and Officers of the Company except as stated above. Pragati Islami Bima Division, 1st year 28,667,116 28,667,116 14,722,313 ii) There is no amount payable to Directors including Managing Director, Managers and Officers of the Pragati Islami Bima Division, Renewal 15,696,301 15,696,301 6,762,934 Company for any sort of commission on purchases, profit or guarantee. Islami Deposit Pension Scheme,1st Year 45,305,500 45,305,500 29,994,527 Islami Deposit Pension Scheme, Renewal 19,728,700 19,728,700 10,113,710 iii) Directors' Fee for attending each Board Meeting and Committee Meeting for each Director during the year Taka 736,468,458 10,824,183 725,644,275 563,776,063 was Tk. 2,500 and Tk. 2,000 respectively. 23.00 Post Balance Sheet Event 20.00 Interest, Dividends and Rents: Tk. 166,970,893 There was no significant event that has occurred between the balance sheet date and the date when the The above balance is made up as follows: financial statements are authorized for issue by the Board of Directors except the proposed dividend Tk.75,00,000 as under: Particulars 2008 2007 The Board of Directors in its meeting held on 27 June 2009 has recommended for payment of cash dividend Interest on FDR 12,715,958 16,273,797 in the amount of Tk. 75,00,000 being @ 10% on paid-up capital out of the surplus available for distribution at Interest on NIB 340,000 340,000 the end of the year 2008, as per Actuarial Valuation which is subject to the approval of shareholders in the Profit on sale of Shares 131,416,104 83,024,466 forthcoming Annual General Meeting of the Company. Interest on BGTB 14,470,324 8,316,505 24.00 Capital Expenditure Commitment Interest on Short Term Deposit 3,122,337 2,261,315 a) There was no capital expenditure contracted or incurred or un provided for at December 31,2008. Profit on SND Accounts 39,167 93,404 Dividend Received 2,148,165 973,286 b) There was no material capital expenditure authorized by the Board but not contracted for at 31st Interest on Motor Cycle Loan 446,629 350,376 December, 2008. Interest on Bi-Cycle Loan 178,435 126,560 25.00 Claim not acknowledged Interest on Mobile Phone Loan 169 1,071 There was no claim not acknowledged as debt as on December 31,2008. Interest on Loan 467,555 250,454 Interest on Policy Loan 92,513 62,325 26.00 Contingent Asset/Liabilities Late Fee 1,532,062 1,459,544 There was no contingent assets or liabilities of the company as on December 31,2008. Bond Fee 1,475 1,207 27.00 Number of employees Taka 166,970,893 113,534,310 (Companies Act 1994, Schedule-XI part-II) Particulars 2008 2007 21.00 Other Income: Tk. 3,571,230 The number of employees and expenses incurred for The above balance is made up as follows: employees during the year as follows: Particulars 2008 2007 Number of employees with remuneration: (i) Below Tk. 36,000 p. a. 735 575 Service Charge 240,428 344,916 (ii) Tk. 36,000 p. a. and above 458 318 Miscellaneous Income 133,035 58,831 Amount in Taka Below Tk. 36,000 p. a. 16,811,084 13,652,350 Profit/(Loss) on sale of vehicles 3,197,767 450,000 Tk. 36,000 p. a. and above 59,257,173 48,994,766 Taka 3,571,230 853,747 28.00 Credit Facility There was no credit facility available to the Company under any contract as on December 31,2008. 29.00 Payment in foreign currency There was no payment in foreign currency during the year. Notes to the Financial Statements the Financial to Notes Statements the Financial to Notes

58 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 59 TRUST US FOR LIFE TRUST US FOR LIFE

30.00 General i) Previous year figures have been rearranged where necessary you conform to the current year's presentation. ii) IPL, PB, IJB (Takaful), PIBD, IDPS and IHP represents under Individual Product Line, Pragati bima, Islami Jibon Bima (Takaful), Pragati Islami Bima Division, Islami Deposit Pension Scheme and Individual Health Plan respectively.

CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR

( Rahman Mustafiz Haq & Co. ) Dated: Dhaka, April 30,2009 CHARTERED ACCOUNTANTS Schedule of Fixed Assets As at December 31, 2008 FIXED ASSETS (At Cost Less Depreciation): Tk. 64,745,532 Schedule - 1

Furniture Electrical Particulars Computer Other Vehicle Total & & Office Equipment Fixture Equipment A. Cost : As at Jan 01,2008 16,014,386 5,740,663 8,542,994 161,700 35,110,663 65,570,406 Addition During the year 7,098,761 2,254,271 3,000,997 50,906 23,959,833 36,364,768 Sale/Adjustment During the Year 9,700 - - - 1,111,916 1,121,616 As at Dec 31, 2008 23,103,447 7,994,934 11,543,991 212,606 57,958,580 100,813,558 B. Depreciation : Rate of Depreciation 10% & 20% 20% & 15% 20% 20% 20% As at Jan 01,2008 5,597,970 3,671,366 4,621,340 136,151 9,696,470 23,723,297 Charge for the year 1,963,581 926,526 1,660,752 34,989 8,688,477 13,274,325 Adjustment During the Year - - - - 929,596 929,596 As at Dec 31,2008 7,561,551 4,597,892 6,282,092 171,140 17,455,351 36,068,026 C. Written Down Value (A-B) As at December 31, 2008 15,541,896 3,397,042 5,261,899 41,466 40,503,229 64,745,532 As at Dec. 31, 2007 10,416,416 2,069,297 3,921,654 25,549 25,414,193 41,847,109 Notes: i) Depreciation has been charged on addition of Fixed Assets from the following month of procurement. ii) Depreciation has been charged on straight line method on the cost of individual assets. Certificate under the Insurance Act, 1938 As per Regulatiions contained in the First Schedule of the insurance Act, 1938, as amended, and 40-B of the said Act, we certify that: 1. The value of investment in shares has been taken at cost. 2. The value of all assets as shown in the Balance Sheet and as classified on Form “AA” annexed have been duly reviewed as on December 31, 2008 and in our belief, the said assets have been set forth in the Balance Sheet at amounts not exceeding their realizable or market value under the several headings as enumerated. 3. All expenses of management in respect of LIfe Insurance Business transacted by the Company in Bangladesh have been fully debited in the Reveue Account as expenses.

CHAIRMAN DIRECTOR DIRECTOR MANAGING DIRECTOR

Dated: Dhaka, April 30, 2009 Notes to the Financial Statements the Financial to Notes

60 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 61 TRUST US FOR LIFE TRUST US FOR LIFE

t to Aktel aymen ayment of IPL Death Claim P Death Claim P

Group Life and Hospitalization Insurance Contract Signing with Chittagong Stock Exchange Death Claim P ayment of IPL

Death Claim Payment t Death Claim Payment of IPL o Pragati Insurance Ltd.

ontract Signing tion Insurance C Group Hospitaliza t to BSEC ersity th Claim Paymen with Dhaka Univ Dea

Group Hospitaliza Group Hospitalization I tion Insurance Contract Sig nsurance Contract Sig ts ts ning with NTV ning with Peoples Tel e n e n v v e E e E ti Li f ti Li f ag a ag a r r P P

62 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 63 TRUST US FOR LIFE TRUST US FOR LIFE

Death Claim Payment to Lafarge Surma Cement Sports in Annual Picnic 2009

Death Claim Payment to Nuvista Pharma Death Claim Payment of IDPS

Contract Signing with H.S. Education & Health Society Conference 2008 of PBD & PIBD

Group Life & Hospitalization Insurance Contract Signing Annual Picnic 2009 with Navana Group

Conference 2008 of PBD & PIBD Eid Reunion Pragati Life Events Life Pragati Events Life Pragati

64 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 65 TRUST US FOR LIFE TRUST US FOR LIFE

ayment of IPL Death Claim P

Cultur al activities in A nnual P icnic 2009

Group Hospitalization Insurance Contract Signing with BRAC University

ayment of IDPS Death Claim P

Business Dev ts ts elopment Meeting of IPL e n e n v v e E e E ti Li f ti Li f ag a ag a r r P P

66 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 67 TRUST US FOR LIFE TRUST US FOR LIFE

Individual Product Line (IPL) Individual Product Line (IPL)

COX'S BAZAR BANDARBAN PODDAR BAZAR AGENCY SONAIMURI AGENCY DHAKA LALMONIRHAT Birahimpur, Poddar Bazar Rashad Bhaban (1st Floor) BANDARBAN AGENCY CHAKARIA AGENCY Lakshmipur Sonaimuri, Noakhali DHAKA SERVICING CELL LALMONIRHAT AGENCY M.Rahman Complex (1st floor) Bandarban Shoping Complex Bhuiyan Mansion (4th floor) Shap Tana Road, Lalmonirhat Chiringa, Chakoria, Cox.s Bazar (2nd floor), Bandarban RAMGANJ AGENCY SHOMPARA AGENCY 6, Motijheel C/A, Dhaka Sheikh Bhaban (2nd floor) Shompara, Chatkhil, Noakhali JAMALPUR BADAR KHALI AGENCY KHAGRACHARI Ramganj , Lakshmipur PALTAN SERVICING CELL AMISHA PARA AGENCY Baitul Abed (8th Floor) Islamia Market JAMALPUR AGENCY KHAGRACHARI AGENCY MANDARI BAZAR AGENCY Amisha Para Bazar, Sonaimuri 53, Purana Paltan, Dhaka-1000 Jeep Station Buty Plaza (2nd Floor) Chakaria, Cox's Bazar H/No-242 (2nd Floor) Mandari Bazar,Lakshmipur Noakhali Dhahid Kader Road, Dhagrachari NOBABGANJ AGENCY Madical Road, Jamalpur CHANDRAGONJ PASHCHIM BANGLA BAZAR AGENCY Nobabganj Post Office Opposite CHITTAGONG MANIKCHARI AGENCY BAZAR AGENCY New Market (Gr.floor) Bangla Bazar side of Nobabganj, Dhaka JAMALPUR (DHAKAI PATTI) AGENCY Manikchari Bazar, Khagrachari Ayub Super Market (2nd floor) Begumganj, Noakhali Dhakai Patti main Road, Jamalpur CHITTAGONG SERVICING CELL Chandragonj Pashchim Bazar JOYTARA AGENCY CHOUMUHANI AGENCY Aziz Court (2nd Floor) FENI Chandragonj , Lakshmipur Dr. YeasAli Market (1st Floor) THAKURGAON 88/89. Agrabad C/A Choumuhani, Begumgonj, Noakhali Joypara, Dohar,Dhaka ALEXANDER AGENCY Chittagong-4100 FENI SERVICING CELL THAKURGAON SERVICING CELL Alexander, Ramgoti, Lakshmipur NADIA AGENCY Nurjahan Plaza (4th floor) COMILLA Shantinagar, (East Side Stadium CHITTAGONG AGENCY Majhi Plaza (2nd Floor) 149, Pachgasia Road, Feni TORABGONJ AGENCY Gate), Thakurgaon Shah Amir Plaza (3 rd Floor) COMILLA AGENCY Nadia Bazar, Nadia, Shariatpur CHHAGALNAIYA AGENCY Torabgonj Bazar, Ramgati, Lakshmipur 534/535, Shekh Mujib Road Hazi Mansion (2nd floor) THKURGAON AGENCY Thana Para, Chhagalnaiya, Feni Chittagong RAIPUR (HAIDARGANJ) AGENCY Monoharpur, Comilla MUNSHIGONJ Rahman Villa, Thakurgaon Sadar DAGANBHUIYAN AGENCY Haidarganj Bazar, Post : Udmara, MONSHIGONJ NIMTOLI AGENCY Thakurgaon FATIKCHHARI AGENCY GUNABATI SERVICING CELL Daganbhuiyan Bazar, Feni P.S. Raipur, Lakshmipur Iqbal Super Market (1st Floor) Fatikchhari Bazar Hasan Super Market, Gunabati GORYA GOPALPUR Kuchiamora, Sirajdikhan, Munshigonj Chittagong PARASHURAM (FENI) AGENCY RAIPUR (SADER) AGENCY Chouddagram, Comilla (THAKURGAON) AGENCY Sayem Shopping Center (Gr. Floor) Akbar Super Market (2nd Floor) CHANDINA SERVICING CELL Vill : Goreya Gopalpur HATHAZARI AGENCY JHENAIDAH South Salia, Parashuram, Feni Sonali Bank Road, Raipur Sadar Nashu Bhuiyan Market (1st floor) Natun Goreyahat, Thakurgaon Jabol and Son's Shopping Center Lakshmipur Chandina pourashava, Comilla JHENAIDAH SERVICING CELL Hathazari Bus Stand MOHAMMAD ALI BAZAR PIRGONJ (THKURGAON) AGENCY RAMGONJ SADAR AGENCY H.S.S. Road, Azad Rest House Chittagong (FENI) AGENCY BOXGONG SERVICING CELL Rani Sankail Sarak Janata Bank Road (1st Floor) (2nd floor), Jhenaidah Shahjahan Saju Market (1st Floor) Boxgonj, Nangolcourt, Comilla Pirgonj, Thakurgaon BAROIYER HAT AGENCY Dhaka Chittagong Highway Road Ramgonj, Sadar, Lakshmipur KALIGANJ (JHENAIDAH) AGENCY Jamalpur supar market Mohammad Ali, Feni Sadar, Feni DHORKORA AGENCY Dhaka Khulna High Road Hazi Super market (1st Floor) DINAJPUR Baroiyer Hat, Chittagong NOAKHALI College Para Kaligonj, Jhenaidah LAKSHMIPUR Dhorkora, Chouddagram, Comilla RAUZAN AGENCY NOAKHALI SERVICING CELL BIRGANJ AGENCY GUNOBATI AGENCY MANIKGANJ Union Market LAKSHMIPUR SERVICE CENTRE Begumganj Thana Dinajpur Thakurgaon Road Hasan Super Market (1st Floor) Rauzan pourashava, Chittagong Bahauddin Yousuf Super Market Kendrio Shamobay SINGAIR AGENCY Birgonj Dinajpur Mazid Road, Gunabati 154-155, Chalkbazar, Lakshmipur Shamiti Bhaban (3rd floor) Razzab Ali Market (2nd Floor) SITAKUNDA AGENCY Chouddagram, Comilla BOCHAGONJ (DINAJPUR) AGENCY Post : Choumuhuni Singair, Manikganj Sitakunda shopping Center (3rd floor) LAKSHMIPUR SADAR AGENCY Subidhat, Madrasa Rood Begumganj, Noakhali VHAUKSHAR AGENCY Sitakunda Chittagong Rehana Bhaban (1st floor) House No-19, Holding NO-274 M T Super Market (Gr. Floor) College Road, Lakshmipur MAIJDHEE SERVICING CELL GAIBANDHA Setabgonj, Bochagonj, Dinajpur Vhaukshar, Barura, Comilla SITAKUNDA SADAR AGENCY Hasan Manjl, Ho No-763/A GABINDAGONJ AGENCY LAKSHMIPUR AGENCY BIRAMPUR (DINAJPUR) AGENCY Nabi Building (North Side) Majijdhee Bazar, Maijdhee KANDIR PAR (COMILLA) AGENCY Hasan plaza (2nd floor) Haji Super Market (1st floor) Pilot School Sarak Sitakunda, Chittagong A K Fazlul Haque Road Denajpur Road, Gobindaganj Baghbari, Lakshmipur HATIA SERVICING CELL Birampur, Dinajpur BASHKHALI AGENCY Comilla, Kotwali, Comilla LAKSHMIPUR (NORTH) AGENCY Serajul Super Market (2nd floor) Saudia Market (2nd Floor) KURIGRAM Siddique Tower, Uttar Bazar Oskhali, Hatia JOYPUR HAT Bashkhali, Chittagong CHANDPUR Lakshmipur KHILPARA AGENCY KURIGRAM SERVICING CELL JOYPUR HAT AGENCY DEWANHAT AGENCY Janata Bank Bhaban (1st floor) CHANDPUR SERVICING CELL Mollah Bhaban,(1st Floor) DATTAPARA AGENCY Kurga Bosralaya (3rd Floor) Amina Aziz Building (1st Floor) Khilpara Bazar, Chatkhil, Noakhali Gafur Manjil (1st floor) Ghoshpara, Kurigram Dattapara Bazar, Dattapara Joypurhat Sadar, Joypurhat Sheikh Muzib Road Holding No: 139/110 Lakshmipur CHARBATA AGENCY NAGESHWARI AGENCY Pathantuly, Double Muring Hazi Mahashin Road, Chandpur Ghasher Hat Bazar, Charbata, Noakhali West Nageshwari, Kurigram Chittagong Important Offices Important Offices

68 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 69 TRUST US FOR LIFE TRUST US FOR LIFE

Individual Product Line (IPL) Pragati Urban Division SYLHET GAZIPUR TANGAIL Office Address KALIAKAIR (GAZIPUR) KARATIA (TANGAIL) SYLHET SERVICING CELL JORAIN AGENCY BARISHAL AGENCY KHULNA DIVISIONAL AGENCY SERVICING CELL SERVICING CELL Shahajalal Plaza (2nd floor) 95 Wasa Road (Gr. Floor) Jahanara Monjil (Gr. Floor) Pabla Diba/Noysa College Road Kaliakair Bypass, Sree Faltali Talukder Enterprize Bhaban Block-D Plotno-Y, Main Road East Jorain, Bou Bazar Koster Barofcol H.No. 433/2 (2nd Flour) (3rd Floor), Gazipur (2nd Floor), Karatia, agnail, Tangail Shahajalal Upa-Shahor,Sylhet Kadomtoli, Dhaka Kotoali, Barisal P.O: Doulatpur CHONDARPUR (SYLHET) AGENCY KALIGONJ (GAZIPUR) AGENCY Thana: Doulatpur, Dist: Khulna Azar Ali Market (Gr. Floor) Puratan Bank More RANGPUR MOTIJHEEL AGENCY JOYPARA AGENCY Biani Bazar Road, Chandarpur Bazar Rangdhanu Super market (1st Floor) RANGPUR (TAKAFUL) Maksom Manson (1st floor) Chowdary Market (Gr. Floor) JESSORE AGENCY Golapgonj, Sylhet Kaligonj, Gazipur SERVICING CELL 127 Motijheel C/A Chowdarypara road Norjahan Vila (1st Floor) SM Chakrabarti Swarani Dhaka-1000 P.O: Joypara, Thana: Dohar Dhaka 9 No. Rail road, P.O: Jessore BIYANIBAZAR AGENCY SIRAJGONJ Dowlat Complex (1st Floor) Thana: Katoali, Dist.: Jessore GAZIPUR SADAR AGENCY TABONIA BAZAR AGENCY Hazi Musa Market, College Road BHUIYANGATI SIRAJGONJ AGENCY Sadar, Kotwali, Rangpur Akas Ali Bhahan (Gr. Flour) S.A Gafor Super Market SHERPUR AGENCY Biyanibazar Bhuiyangati Sarak RANGPUR AGENCEY West Bilaspur (2nd Flour), P.O: Tabonia Gopesh Chandra Ray Bhaban (1st floor) Rajganj, Sirajgonj Gazipur Thana: Pabna Sadar Hatkhola road, P.O+P.S: Sherpur SUNAMGONJ 590/1 Pruba goneshpur PANCHAGAR Rangpur Sadar, Rangpur District: Pabna Dist: Bogora SUNAMGONJ SERVICING CELL Onabil (1st Floor), Sunamgong PANCHAGAR AGENCY NARAYANGONJ West Rowshanbag (Gr.Floor) DERAI (SUNAMGONG) AGENCY Panchagar NARAYANGONJ SERVICING CELL Thana Road, Shapla Telecom (1st Floor) 53/3, Nabab Salimullah Road Metro Wing Derai Chandaurpru, Derai, Sunamgong BODA (SATKHAMAR) AGENCY (3rd Floor), Chashara, Narayangonj Boda, Satkhamar Office Address BANGLABAZAR Ponchagar BARISAL (SUNAMGONJ) AGENCY MALEK TOWER Abdul Malek Bhabon (Gr.Floor) BOGRA BARISAL SERVICING CELL (8th Floor), 31 Tejkunipara, Farmgate, Dhaka In Front of Banglabazar Jame Masque Boyddapara C&B Road, Barisal Banglabazar, Doara Bazar, Sunamgonj BOGRA AGENCY Dr. Yeasin plaza (2nd Floor) Nabab Bari Road TAKAFUL BIMA DIVISION SATKHIRA Bogra, Sadar, Bogra RAMPUR UTTOR BAZAR Pragatibima and Pragati Islamibima Division SATKHIRA AGENCY BARAGOLA (BOGRA) BRANCH OFFICE Khan Plaza (1st Floor), Satkhira SERVICING CELL Hazi Super market (2nd Floor) Address of Divisional office Nurul Haque Tower (5th Floor) Syedpur Bazar, Hazigonj, Chandpur KHULNA Baragola, Bogra PALASHBARI DIVISSION OFFICE SYLHET DIVISIONAL OFFICE BOGRA DIVISIONAL OFFICE JESSORE DIVISIONAL OFFICE KHULNA AGENCY Gridhari Pur,Palashbari, Gaibandha. Bonorupa , House # 42, Road # 15 Eid Gah Lane, (3rd Floor) 27,M.K.Road, Safi Ullah Complex Block # B, Shahjalal Upa – Shahar Sutrapur, P.S+ Dist.- Bogra (2rd Floor) P.S. Kotowali, Jessore Tymon Center (2rd floor) B-BARIA GAIBANDA BRANCH OFFICE Sylhet Shib bari Moer , Sonadangga, Khulna B-BARIA AGENCY RANGPUR NORTH & MYMENSINGH DIVISIONAL OFFICE T A Road, Yead Complex (4th Floor) B. R. Choudhari Nibash South Dhangora, Pslashbari Road HOBIGONJ DIVISIONAL OFFICE SOUTH DIVISIONAL OFFICE 76/A Chotobazar, Mymensingh B-Baria, B-Baria Kadir Mansion, (2nd Floor), Hobigonj Neosen para, Ersad swarani road NATORE Gaibanda Snaher neer, (1stst Floor) COMILLA DIVISIONAL OFFICE NATORE AGENCEY CHAPAINABABGONJ FARIDPUR DIVISIONAL OFFICE p.s-Alamnagar, p.s-Kotowali, Mafijuddin Road, Raiscours (4th Floor) Khaleda Khanom Bhoban (1st Floor) Goal Chamat, Molla Tower, Rangpur P.O-Comilla, P.S-Kotowali, Dist.-Comilla Madrashar Moer, Natore Sadar, Natore CHAPAINABABGONJ SERVICING CELL (2nd Floor), Kotowali, Faridpur. Bishwa Road Sarak (2nd Floor) DINAJPUR DIVISIONAL OFFICE CHANDPUR DIVISIONAL OFFICE Battala, Nababgonj Sadar BARISAL DIVISIONAL OFFICE Alam Corporation (2nd Floor) Amin Plaza (1st Floor) PABNA Chapainababgonj Sumaita Bhabon (1st Floor) ,In Front P.O. Munshipara, P.S. Kotowali, Dinajpur Sahid Muktijuddha Sarak, Chandpur BHANGURA AGENCY of B,AD,C Office, C & B Road, Barisal. Priya Super market (Ground Floor) KHULNA DIVISIONAL OFFICE CHITTAGONG DIVISIONAL OFFICE College Rood, Bhangura, Pabna JHALAKATHI DIVISIONAL OFFICE 3.No Ahasan Ahamed Road Saha Amanat Link Road, Manik Plaza 29, Mosjidbari Road, Jhalakati Kakoli Press Bhanban, (1st Floor) (2nd Floor), P.O+P.S-Chandgoan P.s- Khulna Sadar,Dist-- Khulna Chittagong Important Offices Important Offices

70 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 71 TRUST US FOR LIFE TRUST US FOR LIFE

Pragatibima and Pragati Islamibima Division Pragatibima and Pragati Islamibima Division Address of Zonal office Address of Area office

SUNAMGONJ ZONAL OFFICE BARISAL WEST ZONAL OFFICE JHENAIDAH SOUTH ZONAL OFFICE SYLHET UMA AREA OFFICE FARIDPUR SOUTH KA AREA OFFICE KURIGRAM KHA AREA OFFICE Ukil Para, Baban-Anabil-17,(1st Floor) Faruk Traders (2nd Floor),Batajor Bank & Bima Bhabon (2nd Floor) P.o+P.s+ Dist-Sunamgonj Gournadi, Barisal Madhogang Road, Naldanga, Kaligong Janata Market, South Beani Bazar, Sylhet 17 Rasi College Road,P.S+P.O- Sadarpur Sekurtari (Nearest Sarif Cinema Hall) Jhenaidha Dist-Faridpur Rajarhat, Kurigram DIRAI ZONAL OFFICE JHALAKATHI SOUTH ZONAL OFFICE SYLHET NORTH-KA AREA OFFICE Aziz Mansion (1nd Floor),Haranpur Road, Sumon Enterprise (2nd Floor), Rajapur KUSHTIA ZONAL OFFICE Kanaighat Bazar, Kanaighat, Sylhet FARIDPUR KHA AREA OFFICE Lalmonirhat South Ka Area office (Old Cenama Hall Road), Dirai-Sunamgonj Jhalakathi 63169 R.C.R.C Street. Courtpara, Kushtia Vill- Tepurakandi,, P.O- Bakigong Vill-Khatapara, P.o-Saptibari SYLHET NORTH-GHA AREA OFFICE P.S- Kotuali, Dist-Faridpur P.s-Aditmari, Lalmonirhat SREEMANGAL ZONAL OFFICE BORGUNA ZONAL OFFICE NARAIL ZONAL OFFICE Kholadaponia, P.o-Echamoti Bharaura, Moulavibazer Road College Road, Borguna Jammadder Tower (2) P.s-Jhokigong, Dist- Sylhet RAJBARI KA AREA OFFICE NILFAMARI KHA AREA OFFICE P.o+P.s-Sreemangal, Dist- Moulavi Bazar (2nd Floor), Rotangonj, Narail Nasar Uddin Sardar Para Gobindapur, P.o+P.s-Khansama DINAJPUR NOURTH ZONAL OFFICE MOWLAVI BAZAR ZONAL OFFICE Sujalpur College Road, Dist.-Dinajpur BRAHMANBARIA ZONAL OFFICE SYLHET NORTH-KHA AREA OFFICE p.o+P.s- Goalanda, Dist- Rajbari Dist-. Dinajpur Nahid Plaza, (2nd Floor) T,A Road, Al-Amin Plaza (3rd Floor) Darbosto bazer (South Goli) Sayed Kudrat Ullah Sarak, West bazar COMILLA WEST ZONAL OFFICE P.o+P.s+Dist-Brahmanbaria P.s-Jaintapur, Dist- Sylhe SARIYATPUR KA AREA OFFICE COMILLA NOURTH CA AREA OFFICE Moulavi Bazar Shankar Homeo Bhaban (2rd Floor) Naria,, C.N.B., Khan Market, (2nd Floor) Girls School Road, Nearest Agroni Bank New Market, Debiddar, Comilla CHAPAI NAWABGONJ ZONAL OFFICE SUNAMGONJ –KHA+GA+GHA AREA OFFICE P.o+p.s-Naria, Dist-Sariyatpur P.S-Nimsar, P.S-Burichong, Dist-Comilla RAJBARI & RAJBARI WEST ZONAL OFFICE Sharup Nagor, Chapai Nawabgonj Pouro Point Jhagannathpur Ahasan Bhabon (2nd Floor), Sreepur, Rajbari CHITTAGONG EAST ZONAL OFFICE Sylhet Sarak, Jhagannathpur, Sunamgonj BARISAL KHA AREA OFFICE CHANDPUR UMA AREA OFFICE Main Road, Karim Centre (1st Floor) PABNA ZONAL OFFICE Vill+P.O-Kalijira Bazer,P.S+Dist-Barisal Patoary Bazar, P.s- Faridgonj, Chandpur MADARIPUR ZONAL OFFICE 1 No. Road, Bibirhat Shalgaria,ataikula Sarak,Shiplu Bhaban SUNAMGONJ –JA AREA OFFICE College road, nearest powrasava masjit Khagrachori Highway Road P.o+P.s+Dist- Pabna Vill-Shibgonj, Bhai Bhai Market JALAKATHI KHA AREA OFFICE CHANDPUR GHA AREA OFFICE lutfur Rahaman bhaban,(1st Floor) Fatikchori, Chittagong p.o+p.s+dist-Madaripur NATORE ZONAL OFFICE P.o-st Floor) Kubazpur Taltala Bazer, Nalciti, Jalkathi Sarodi Bagra Bazer, P.o- Bagra Bazer CHANDPUR NOURTH ZONAL OFFICE Old Bus Terminal, Bogra Road P.s-Jhagannathpur, Sunamgonj P.S+Dist-Chandpur. NOAGAON ZONAL OFFICE Vill-Kaladi Baro Bari, Matlab, Chandpur Peo Plaza (1st Floor) P.o+p.s+Dist- Natore BOGRA EAST KA AREA OFFICE Hotel Potti, Sumin Monjil SUNAMGONJ –JHA AREA OFFICE Gabtali east para,P.o+P.s-Gabtali NOAKHALI CHA AREA OFFICE (Ground Floor), Noagaon CHANDPUR EAST ZONAL OFFICE NARAYANGONJ ZONAL OFFICE Vill+P.o-Birgao,Kaizer Super Market Dist-Bogra Sultan Plaza (3th Floor) Vill-Suapara, Bismillaha Shoping Complex 94, Seraj- Ud-dollah Road, Narayangonj P.s-South Sunamgong, Dist-Sunamgong Arjuntala D.B. Road, Senbag, Noakhali GAIBANDHA ZONAL OFFICE P,o-Kaliapara, P.s-Saharasti, Dist-Chandpur BOGRA SOUTH KA AREA OFFICE House of jahidul, (2nd Floor) NARSINGDI ZONAL OFFICE SUNAMGONJ –UMA AREA OFFICE Deogram Bazar, Kahalu, Bogra FENI UMA AREA OFFICE D.B Road,P.O+P.S+Dist- Gaibandha LAXMIPUR ZONAL OFFICE 167, Court Road, Bilasdi Shadin Bazer, Maa Market, P.o-Pailgao Khandakar Rahamania Market Vill-Samserabad, Hazi shahabuddin Market Opojit sight of Narsingdi Civil Sargeon office JOYPURHAT ZONAL OFFICE (2nd Floor), P.o+P.s+dist- Laxmipur Narsingdi P.s- Jhagannathpur, Dist-Sunamgong NOAGAON CHA AREA OFFICE (Ground Floor), P.s-Podua Jamalgonj road, Sawdagar house, (2nd Floor) Shoheli Restura (1st Floor) p.s-Chowddagram, Comilla p.o+p.s+dist--Joypurhat BAGERHAT ZONAL OFFICE DIRAI GHA AREA OFFICE P.o+P.s-Badalgachi, Dist- Noagaon Maqbul master, (chairman house) Vill-Shamarchar, P.o-Bojendragong CHITTAGONG GHA OFFICE KURIGRAM ZONAL OFFICE In front of dist judge banglo, Sonatala P.s-Dirai, Dist-Sunamgong JOYPURHAT EAST KHA AREA OFFICE Abdur Rauf Sawdagar building Power House Para, R.K. Road, Kurigram C& B Sarak.P.S- Dashani, Bagerhat Main Road, Akkelpur, Joypurhat (2nd floor) Krishi Khamar Road DIRAI GA AREA OFFICE Hathazari,Bazar, Chittagong THAKURGAON ZONAL OFFICE DHAKA ZONAL OFFICE Vatipara Bazer, P.s- Dirai. Dist-Sunamgong NOAGAON NEO AREA OFFICE East Goal Para, Thakurgaon Konapara Main Road West Sight of Najipur Bus Stand CHITTAGONG KA & KHA OFFICE Compani Super Market MOULAVI BAZER EAST UMA AREA OFFICE Dhaka Mansion, Najipur, Patnitala Gahira School Shoping Complex NOAKHALI ZONAL OFFICE P.O-Shahajala, P.S-Demra, Dist.-Dhaka Road-Maijde Miazipara Shremangal Road,Samsernagar Noagaon (1st Floor), Gahira Chowmuhani Lutful Haque Traders(2rd floor) JESSORE EAST ZONAL OFFICE Kamolgong, Moulavi Bazar Rawjan, Chittagong p.o.- Maijdi Court, p.s. sadar, Noakhali. Bagharpara Chowrasta, Hazi Market RANGPUR NORTH GA AREA OFFICE (1st Floor), P.O+P.S- Bagharpara HOBIGONJ GHA AREA OFFICE Degree College Road KHULNA EAST GHA AREA OFFICE FENI ZONAL OFFICE Dist-Jessore Bulla Bazar, Lakhai, Hobigonj P.o+P.s+ Gangachara, Dist-Rangpur Beg Super Market (1st Floor), Digraj Jamuna Shoping Center (2rd Floor) Mongla, Bagerhat Trank Road, P.O+P.S+Dist---Feni CHUADANGA & CHUADANGA HOBIGONJ EAST CHA AREA OFFICE RANGPUR NORTH KA OFFICE SOUTH ZONAL OFFICE Islamia Super Market (1st Floor) Fatehapur Road,Sheik Manjil, Mahigong KHULNA NORTH GA AREA OFFICE SATHKHIRA ZONAL OFFICE Notun Bazar, Habiba Tower, (2nd Floor) Bahubal Bazar, P.o+P.s-Bahubal Rangpur House no-n/a/1/42, Road no-25 Noor super market (1st Floor) Kedargonj, Chuadanga In front of new judge court Sathkhira Dist- Hobigonj Houseing Astate, Khalishpur, Khulna Kaligonj Main Sarak, Palashpul, Sathkhira JHENAIDAH ZONAL OFFICE RANGPUR SOUTH –1 GHA OFFICE kobi shukanta Sarak HOBIGANJ SOUTH GA AERA OFFICE West Sight of Mithapukur Post Office KHULNA SOUTH GA AREA OFFICE FARIDPUR ZONAL OFFICE Sultan Market, Jhenaidah Khadija Mansion, , Cunarughat, Hobiganj P.o+P.s+ Mithapukur, Rangpur Chalna Bazar (Khan Market) Mulla Tower (2nd Floor), Goalchamot Dakup, Khulna Kotowali, Dist-Faridpur JHENAIDAH WEST ZONAL OFFICE BRAHAMAN BARIA GA AREA OFFICE DINAJPUR NORTH KA AREA OFFICE Thana More, Court Chandpur, Jhenaidha Khan Market Ground Floor), P.o- Islampur Sujolpur, Beuity Villa, Dinajpur SARIYATPUR ZONAL OFFICE P.s+Dist-Brahaman Baria Vill+P.o+P.s-Palong, Jinnath Habib Bhabon DINAJPUR NORTH KHA AREA Dist-Sariyatpur Uchitpur, Maharajgonj, Kaharul, Dinajpur Important Offices Important Offices

72 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 73 TRUST US FOR LIFE TRUST US FOR LIFE

Pragatibima and Pragati Islamibima Division Pragatibima and Pragati Islamibima Division Address of Area office Address of Area office

SATKHIRA UMA AERA OFFICE HOBIGONJ EAST JHA AREA OFFICE JALAKATHI SOUTH KA AREA OFFICE NOAGAON JHA AREA OFFICE RANGPUR SOUTH-GHA AREA OFFICE KHULNA NORTH KA AREA OFFICE Nor Market (1st Floor),Vill-Badghata Putijuri Bazer,Nur Mansion (1st Floor) Putiakhali Chowrasta, Mir Mahol Kayesthapara, Nearest Ricsha Office Vill- Adam, P.o-Pawtanahat Aftab Super Market (2nd FlooR) (Sahid Muktijudha Road), Hospital Road Bahubal, Hobigonj P.o-Hatputiakhali, P.s-Rajapur P.o+P.s-Mahadebpur, Dist- Noagaon P.s- Pirgacha, Dist- Rangpur Khulna Jessore Main Road, Fultala P.o-Nakipur, P.s- Shamnagar, Satkhira Dist- Jalkathi Khulna HOBIGANJ SOUTH KHA AERA OFFICE NOAGAON GHA AREA OFFICE DINAJPUR GHA AREA OFFICE SATKHIRA EAST KHA AERA OFFICE Aziz Super market (Kutirgao) PIRUJPUR KHA AREA OFFICE Vill-Hulybari,,P.o-Chalk Saillahat Nearest Upzila Gate, Setabgong KHULNA SOUTH KHA AREA OFFICE Thana More, Tala Bazar, P.o+P.s-Tala P.o-Ramsree,P.s-Chounarughat Court Road, South Bazer P.s-Manda Dist- Noagaon Buchagong, Dinajpur Hatbati, Kalibari Road Dist- Satkhira Dist-Hobigong Central Eid –Gha Maidan, Kaekhali (West Sight Mandir), Batiaghata Bazer Pirujpur JOYPURHAT KHA AREA OFFICE DINAJPUR GA AREA OFFICE P.o-Batiaghata, Dist- Khulna JESSORE SOUTH KA AREA OFFICE HOBIGONJ EAST NEO AREA OFFICE Sarkar Manjil (1st Floor), Vill-Chalkzudu Dhantala, Nearest Upzila Gate Brothers Market (1st Floor), Main Road Vill+P.o-Dubayai Bazer PATUAKHALI KA AREA OFFICE P.o+P.s- Dhamuirhat, Dist- Noagaon Setabgong, Buchagong, Dinajpur SATKHIRA EAST KA AERA OFFICE keshabpur Bazar, Jessore Sapla Market (1st Floor) Vill-Mahishkata, P.o-Hatcunakhali Patkelghata Adarsha Bahumukhi P.s-. Bahuba, Dist- Hobigonj P.s-Amtali, Dist-Barguna GAIBANDHA SOUTH KA AREA OFFICE COMILLA SOUTH KHA AREA OFFICE High School Road, P.0+P.s- Patkelghata JESSORE SOUTH GHA AREA OFFICE Nearest Upzila Food office, Thana Road Kamal Plaza (2nd Floor), Madham Bazer Dist- Satkhira Rajgonj Bazar (Nasim Bastralay 1st Floor) BRAHMANBARIA GA AREA OFFICE COMILLA SOUTH KA AREA OFFICE Govindhagong Vill+P.o+P.s-Barura, Dist- Comilla North Market Rajgonj Khan Market, Islampur Bazer Sahin Bakary Building, Laksam Road GOPALGONG KA AERA OFFICE Monirampur, Jessore P.s+Dist-B.Baria Poduar Bazar Bishaw Road, Comilla RAJSHAHI CHA AREA OFFICE CHANDPUR CHA AREA OFFICE 204, Miapara, Salmakunja (4th Floor) Vill-Gollapara Bazer, P.o+P.s-Tanore Upzila Complex Bhabon Road Gopalgong NARAIL GA AREA OFFICE BRAHMANBARIA GHA AREA OFFICE CHITTAGONG GA AREA OFFICE Dist-Rajshahi P.s-Algi Bazer, P.s- Haimchar Vill-Ramnagar, P.o+P.s-Kalia, Narail Vill-Taragoan, P.o+p.s- Akhaura Badsha Hazir Market (1st Floor) Dist-Chandpur JESSORE WEST GA AREA OFFICE Dist-B,Baria Fatehabad, Hathazari, Chittagong RANGPUR NORTH-1 GA AREA OFFICE Tokiu Tower, Wapda Road MOULAVI BAZER EAST Sahapur, Badargong, Rangpur CHANDPUR EAST KA AREA OFFICE Jikorgasa Bus Stand, Jikorgasa, Jessore UMA AREA OFFICE BRAHMANBARIA KHA AREA OFFICE SATKHIRA-GHA AREA OFFICE Nawla Road, Rahimanagar North Bazer Shremangal Road,Samsernagar High School Road, Aoruaiel Bazer Najimganj Main Road, Najimganj Bazar RANGPUR NORTH-1 KA AREA OFFICE Kochua, Dist-Chandpur JESSORE SOUTH KHA AREA OFFICE Kamolgong, Moulavi Bazar Sarail, B.Baria P.o+p.s-Kaligonj, Satkhira Vill+P.o-Shampur, P.s- Badargong Sardar Manjil (1st Floor), Durgapur Dist- Rangpur NOAKHALI GHA AREA OFFICE Monirampur, Jessore. MOULAVI BAZER KA AREA OFFICE FARIDPUR SOUTH KHA AREA OFFICE JESSORE EAST-GHA AREA OFFICE Charbajol Karim, Charbata, Charjabber Gajanaipur, Sayara Mansion Chiladharchor, (Arif Manjil) Vill+P.o-Dhalgram, P.s-Bagharpara RANGPUR NORTH-1 KHA AREA OFFICE Noakhali CHUADANGA SOUTH P.o-Deopara, P.s- Nabigong Vhanga, Faridpur Jessore In Front Of Motier Market, Palichowrahat GA AREA OFFICE Dist-Hobigong Dist- Rangpur NOAKHALI UMA AREA OFFICE Darsana Bus stand,Manto Market FARIDPUR SOUTH GA AREA OFFICE BARGUNA KHA AREA OFFICE Haq Super Market (3rd FlooR) (1st FlooR), P.o- Darsana HOBIGONG-CA AREA OFFICE Munsi Villa, Nearest Chagaldi Road Vill- Chalitabunia Bazer, P.p-Nababerhat RANGPUR SOUTH- KHA AREA OFFICE P.o+P.s-Kabirhat, Dist- Noakhali P.s-Damurhuda, Chuadanga Miadhan Market,Vatpara, P.o-Bekiteka Nagarkanda, Faridpur P.s-Bamna, Dist-Barguna Vill-Mahesha,P.o-Mirbag, P.s-Cawnia P.s+Dist-Hobigong Dist- Rangpur CHITTAGONG NORTH JHENAIDAH SOUTH GA OFFICE FARIDPUR NORTH GA AREA OFFICE BOGRA EAST KHA AREA OFFICE GHA AREA OFFICE Mithapukur, Sapnapuri Market HOBIGANJ SOUTH KA AERA OFFICE Vill-West Garakhola, P.o+P.s-Madhukhali Vill+P.o- Mukamtala, P.s-Shibgong RANGPUR SOUTH- GA AREA OFFICE Nur Bhabon (2nd Floor), Mahadevpur Barobazer, Kaligong, Jhenaidha Sayestagong Plaza, p.o+p.s- Sayestagong Dist- Faridpur Dist-Bogra Vill- Deuti Bazer, P.o-Deuti P.o+P.s- Setakunda, Dist- Chittagong Dist-Hobigong P.s-Pirgasha, Dist- Rangpur KUSHTIA KHA AREA OFFICE FARIDPUR SOUTH GHA AREA OFFICE BOGRA SOUTH GHA AREA OFFICE CHITTAGONG NORTH GA AREA OFFICE Jugia Rastapara, Jugia, Mirpur, Kushtia HOBIGONJ EAST CA AREA OFFICE Vatpara, P.o-Tamblkhana Hazradighi,Ghoradhaphat, Bogra RANGPUR SOUTH-2 KA AREA OFFICE Chairman Maeket (1st Floor), Burisshar Vill- Nutan Bazer, Pritam market P.s+Dist- Faridpur Usmanpur Bus Stand Nur Ali House, Hathazari, Chittagong MYMENSINGH CHA AREA OFFICE P.o-Satiajuri, P.s-Bahubal. Dist- Hobigonj BOGRA UMA AREA OFFICE Nearest Bishow Road, Pirgong, Rangpur Fulbaria College Road, Prarona Mansion RAJBARI UMA AREA OFFICE Town Koloni,P.o+P.s- Sherpur CHITTAGONG SOUTH P.o+P.s- Fulbaria, Dist- Mymensingh. HOBIGANJ SOUTH GHA AERA OFFICE East Sight of Khulna Dhaka Highway Dist-Bogra RANGPUR SOUTH-2 GHA AREA OFFICE GHA AREA OFFICE Sheik Selim Mansion (1nd Floor) p.o+P.s- Goalanda, Dist-Rajbari Dhaperhat, Jhagannathpur Pirgong Vill- Hazirhat, Ishaq Chowdhury Bhabon NARSINGDI KA AREA OFFICE Madabpur Bazer, Hobigong BOGRA GA AREA OFFICE Rangpur (1st Floor), P.o-Iqbal park, P.s- Boualmari Bismillaha Manjil, Vill+P.o- Naeayanpur RAJBARI KHA AREA OFFICE Asraf Villa (1stFloor) Dist- Chittagong. P.s- Belab, Dist-Narsingdi HOBIGANJ SOUTH UMA AERA OFFICE Vill-Rosulpur, P.o- Khankhanapur P.o+P.s- Dupchachia, Dist-Bogra RANGPUR NORTH GHA AREA OFFICE Jagadishpur, temunia, p.o-Etakhola P.s-Dist-Rajbari Cubaru, MAolana Market, Burirhat Fram RANGAMATI KHA AREA OFFICE P.s-Madabpur, Hobigong BOGRA GHA AREA OFFICE Sadar,- Rangpur 160//B, P.o-Nutan Bazer, P.s-Kaptai BARISAL NORTH KA & Nearest Subregestre Office Dist- Rangamati HOBIGONJ EAST KA AREA OFFICE KHA AREA OFFICE Upzila Parisad Road, School Market RANGPUR SOUTH-1 KA AREA OFFICE Rahaman Super market (1st Floor) Nearest Babugong Bazer krishi Bank Shibgong, Dist-Bogra Charan Bazer, Mithapukur, Rangpur RANGAMATI GHA AREA OFFICE P.o-Auskandi, P.s-Nabigong Sadar road, Babugong, Barisal chandraguna, Lichu Bagan,Rangunia Dist- Hobigonj CHITTAGONG NORTH KA & RANGPUR SOUTH-2 GA AREA OFFICE Chittagong KHA AREA OFFICE Vill- -Prajapara, P.o+P.s- Pirgong Jalalabad/Bayezid Road, Dist- Rangpur P.O+P.S-Bayezid, Chittagong Important Offices Important Offices

74 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 75 TRUST US FOR LIFE TRUST US FOR LIFE

Pragatibima and Pragati Islamibima Division Pragatibima and Pragati Islamibima Division Address of Branch office Address of Branch office

CHATUL BAZAR BRANCH OFFICE MOINPUR BRANCH OFFICE BIBIRPUKUR BRANCH OFFICE ARSHATPUR BRANCH OFFICE CHOWRANGI BRANCH OFFICE FAZILPUR BRANCH OFFICE Station Road, P.o-Chatul Bazar Abdu Mia bhabon,, Vill+p.o-Moinpur Santahar Road,Bibirpukur Bazer Vill-Park More, Park View Bhabon Vill-Chowrangi Bazer P.o-Singul Fazilpur Bazar, Feni P.s-Kanaighat, Dist-Sylhet P.s- Kasba, Dist-Brahaman Baria P.o-narhattra, P.s-Kahalu, Dist- Bogra (1st Floor), P.o-Rangpur Cadet College P.s-Birol, Dist- Dinajpur Dist-Rangpur MD, ALI BAZER BRANCH OFFICE GASBARI BAZAR BRANCH OFFICE HATKRISNAPUR BRANCH OFFICE DURGAHATA BRANCH OFFICE PULHAT BRANCH OFFICE Modham Kachar, Bhai Bhai Plaza Rahaman Mansion, Gasbari Bazar Vill-Hatkrisnapur, Sadarpur, Faridpur Durgahata Bazar, P.o- Durgahata NAGERHAT BRANCH OFFICE Sahid Saharaf Ali Road, Vill-Pulhat P.o- Md, Ali Bazer P.s+Dist-Feni Kanaighat, Sylhet P.s-Gabtali Vill+P.o-Nagerhat Bandar, P.s-Badargonj P.s-Sadar, Dist- Dinajpur BABURCHAR BRANCH OFFICE Dist-Rangpur BAROIYARHAT BRANCH OFFICE LALA BAZAR BRANCH OFFICE Vill- Baburchar, P.o-Deokhali KAGOIL BRANCH OFFICE BHABANIPUR BRANCH OFFICE Dil Afrose Market (2nd Floor) Vill-+ P.o- Lala Bazar P.o-Sadarpur, Dist- Faridpur Kagoil Bazar, Gabtali, Bogra SATHIBARI BRANCH OFFICE Vill-Muraripur, P.o-Vela, Muraripur Baroiyarhat, Mirsarai, Chittagong (Dhaka Sylhet Highway Road) Sathibari 1 No College Road P.s-Birgonj, Dinajpur Hazi johur Ali Bhabon (1st Floor) DOULATDIA BRANCH OFFICE SADAMAHALHAT BRANCH OFFICE Sathibari, Rangpur PARUA BRANCH OFFICE P.s- South Surma, Dist- Sylhet Gaochia Masjit Para, Nearest Kazi office Vill+P.o-Bangao, P.s-Buchagonj MURARIPUR BRANCH OFFICE Vill-Sayed Nagar (Bangla Bazar) Doulatdia, Goalanda, Rajbari Dinajpur GURJIPARA BRANCH OFFICE Bhabanipur,P.o-Satkhamar Po-parua, P.s-Rangunia SHAHBAZPUR BRANCH OFFICE Chapabari, Jiwon Bhabon P.s-Birgonj, Dinajpur Dist-Chittagong Sumsuddin Super Market MATHER BAZER BRANCH OFFICE KIRTIPUR BRANCH OFFICE P.o-Gurjipara, P.s-Pirgong, Dist--Rangpur Sahabazpur Bazer, Boralekha Mather Bazer, Khoazpur, Madaripur Vill-Kuchgari, P.o-Kirtipur GAREA BRANCH OFFICE NARAYANHAT BRANCH OFFICE Moulavi Bazar. P.s+Dist-Noagaon, Dist- Bogra BAIRATIHAT BRANCH OFFICE Vill-Chongakhata, Gareahat, Thakurgaon Barek Building,Narayanhat, Fatikchari KHASHERHAT BRANCH OFFICE Vill+P.o-Bairatihat, (Mirjapur Road More) Chittagong BOALIA BAZAR BRANCH OFFICE Vill- East Madra, P.0-Madra bazer RANINAGAR BRANCH OFFICE P.s-Mithapukur, Dist-Rangpur KHOCHABARI BRANCH OFFICE Boalia Bazar, Dirai, Sunamgonj P.s-Madaripur,Dist- Madaripur Baluvara, P.o-+P.s- Raninagar East Nargun, P.o- Kahorpara, Thakurgaon MIRSARAI BRANCH OFFICE Dist-Noagaon MOTHERGONG BRANCH OFFICE West Mirsarai, Shek Ahamed Bhabon ROSULGONJ BRANCH OFFICE MAHESHPUR BRANCH OFFICE vill-Hasanpur, Kemi Bakary (1st Floor) CHAIRMAN BAZER BRANCH OFFICE P.o+P.s- Mirsarai, Dist- Chittagong Vill+ P.o-Dhal Bazer, P.s-Dirai Mahehspur Bazar, Bakergonj, Barisal RAIKALI BRANCH OFFICE P.o-Gopigram, P.s-Pirgong, Dist-Rangpur Vill-Sasla Piala, P.o- Kochubari, Thakurgaon Dist- Sunamgonj Raikali Bazer, Akkelpur, Joypurhat TETAIA BAZER BRANCH OFFICE AMUA BRANCH OFFICE BALABARI BRANCH OFFICE MUNSIRHAT BRANCH OFFICE Tetaia Super Market. Temuhani DHAL BAZER BRANCH OFFICE Hospiatal Road, Jani Market GOPINATHPUR BRANCH OFFICE lal Chandpur, P.o-Khalaya Gonjipur Vill-Munsirhat, Edris Ali Shop Mirsarai, Chittagong Vill+ P.o-Rosulgong Bazer (Ground Floor), Amua, Kathalia, Jalkati Vill+P.o-Kashira Bazer, P.s-Akkelpur P.s-Gongachara, Dist-Rangpur P.o- Kholishakuri, Thakurgaon P.s-Jhagannathpur, Sunamgonj Dist-joypurhat KATIRHAT BRANCH OFFICE NACHAN MAHAL BRANCH OFFICE DAMUR CHAKLA BRANCH OFFICE KHALILPUR BAZAR BRANCH OFFICE Showrab Market (1st Floor) BANGLA BAZAR BRANCH OFFICE Nachan Mahal Bazar, P.s-Nalchiti AGRADIGUN BRANCH OFFICE Vill-Fokira, P.o-Boro Darga, P.s-Pirgacha Hazi Market (1st Floor), Khalilpur Bazar P.o-Katirhat, P.s-Hathazari Chowdhury Mansan (1st Floor) Dist- Jalkathi Vill+P.o-Agradigun, P.s-Dhamuirhat Dist-Rangpur Debidder, Comilla Dist- Chittagong Bangla Bazar, Nabigonj, hobigonj Dist-Noagaon NALBUNIA BRANCH OFFICE LAHIRERHAT BRANCH OFFICE DIGHIRPAR BAZAR BRANCH OFFICE NANNUPUR BRANCH OFFICE MANTALA BRANCH OFFICE Nalbunia Bazer, Nalchiti, Jalkathi BALUAHAT BRANCH OFFICE Vill-+P.o-Lahirerhat, P.s-Kotowali Dighirpar, Muradnagar, Comilla Central Plaza. Nannupur Fatikchari Station Road Mantala, P.o-Awliabad Nakaifhat Road,Baluahat Krishi Bank Dist-Rangpur Chittagong P.s-Madhabpur, Dist-Hobigonj HODUA BRANCH OFFICE Bhaban (Ground Floor), P.o-Rahamatpur CHOWARA BAZAR BRANCH OFFICE Pir Muazzem Road, Hodua, Nalchiti, Jalkathi P.s+Dist-Gafbaneha VURARGHAT BRANCH OFFICE Ancharia Mujumdar Market (1st Floor) NAJIRHAT BRANCH OFFICE PANIUMDA BRANCH OFFICE Vill-Fatepur, Joynal Market P.o-Chowara Bazar, P.s- Sadar South Chale Ahamed Bhabon (1st Floor) Vill+ P.o- Paniumda Bazer, P.s- Nabigonj VANDARIA BRANCH OFFICE GAIBANNDHA SADAR SOUTH Po-Palichaurahat, P.s-Kotowali Dist- Comilla Ramgar HighWay Road, P.o-Najirhat Dist-Hobigonj South Vandaria, P.o+P.s-Vandaria BRANCH OFFICE Dist-Rangpur P.s- Fatikchari, Dist-Chittagong Dist-Pirujpur Nakaifhat Road,Radhakrisnapur TURAMUNSHIRHAT BRANCH OFFICE HABIGONG EAST GA AREA Tingastala, Gafbaneha Sadar, Gafbaneha SAYEDPUR BRANCH OFFICE Vill+p.o-Turamunshirhat DATMARA BRANCH OFFICE Chowdhury Mansion (1st Floor) SREEMONTAKATHI BRANCH OFFICE Vill-Monorchara, P.o-Sayedpur P.s-Faridgonj, Dist-Chandpur Abu taleb Market (1st Floor) Nabigonj Madha Bazer C & B Road, P.o- Sreemontakathi NAKAIHAT BRANCH OFFICE P.s-Pirgacha, Dist-Rangpur Datmara Bazer, Fatikchari, Chittagong P.o+ P.s- Nabigonj, Dist-Hobigonj P.s+Dist-Jhalkathi Vill- Kunja Nakaifhat, P.o- Nakaifhat SHOLLA BAZAR BRANCH OFFICE P.s-Gobindagong, Dist-Gafbaneha KHOKAR BRANCH OFFICE Sholla Bazar, Faridgonj, Chandpur RAZERHAT BRANCH OFFICE KATHALIA BRANCH OFFICE KALAUK BRANCH OFFICE Vill-Khoker Bazer, West Sight of Breez Rashid Ahamed Bhabon (1st Floor) Vill+P.o- Labubunia,P.s-kathalia NORUTTAMPUR BRANCH OFFICE Vill+ P.o- P.s- Kalauk Bazer MAHIPUR BRANCH OFFICE P.o-Chatrakachari, P.s-Pirgong South Rajanagar, P.o-Rajabhobon Dist-Jhalkathi Vill+P.o- Noruttampur Dist-Hobigonj Vill- Balugram, P.o- Nayagola Dist--Rangpur P.s- Rangunia, Dist-Chittagong P.s-Nababgong, Dist-Chapainababgong Abdul Gofur Market, P.s- Kabirhat GALACHIPA BRANCH OFFICE GOLAGONGHAT BRANCH OFFICE Noakhali DHARMAGAR BAZER DHAMOIRHAT BRANCH OFFICE Vill-Basbunia, P.o-badurhat HARIAN BAZER BRANCH OFFICE Vill- Monoharpur, Golagong BRANCH OFFICE Hazi Bhabon (1st Floor), Rajanagar P.s-Galachipa, Dist-Jhalkathi Vill- Mahanda, P.o- Rajshahi Sugar Mill P.s-Kotowali, Dist--Rangpur CHAMIR MUNSIRHAT BRANCH OFFICE Dharmagar North Bazer 1 No U,P P.o-Dhamoirhat, P.s- Rangunia P.s-Puthia, Dist- Rajshahi Kutuberhat Road, V.I.P Market P.s- Mahabpur, Dist-Hobigonj Dist-Chittagong NAMUJA BRANCH OFFICE RANIPUR BRANCH OFFICE P.o- Chamir Munsirhat, P.s- Senbug Sarder Super Market Noakhali MARASANI BRANCH OFFICE KALLANI NABDIGONJ Vill+P.o-Kamdebpur, P.s-Birol GHAGRA BRANCH OFFICE Vill-Namuja Pallapara Vill+p.o-Marasani Bazer BRANCH OFFICE Dist-Dinajpur Ghagra Bazer, P.o-Ghagra P.o-Burigong, Dist- Bogra P.s-+ Dist-Brahaman Baria Taluk posua,Nabdigonj Bazar P.s- Kawkhali, Dist-Rangamati p.o-Mahigonj, P.s-pirgacha Dist-Rangpur Important Offices Important Offices

76 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 77 TRUST US FOR LIFE TRUST US FOR LIFE

Pragatibima and Pragati Islamibima Division Islami Bima (Takaful) Office Address of Branch office

KALABAGAN BRANCH OFFICE MUNSHIGONG BRANCH OFFICE GOBRA BRANCH OFFICE COMILLA SERVICE CENTER LAKSAM SADAR AGENCY HASANPUR AGENCY Shilchari, P.o- Shilchari Bazer, P.s- Kaptai Munshigong Bazer, kaligonj Vill-+P.o-Gobra Bazer, Mitali Bhabon Pragati Life Insurance Limited Pragati Life Insurance Limited Pragati Life Insurance Limited Dist-Rangamati Samnagar Satkhira P.s+Dist- Narail. Sattarkhan Complex (7th Floor) Maa Mansion, Bank Road Taju Miah Super Market (1st Floor) FULBARI GATE BRANCH OFFICE HARIVANGA BRANCH OFFICE TULARAMPUR BRANCH OFFICE A.K. Fazlul Haque Road Doulatganj Bazar, Laksam, Comilla. Hasanpur, Nangolkot, Comilla Mahesarpasa (Ral Gatea) Vill+P.o- Harivanga, P.s-Asasuni Vill-+P.o-Tularampur , P.s+Dist- Narail Monohorpur, Comilla Kedernath Main Road, P.o-Kuyet Dist-Satkhira CHOUDDAGRAM SERVICING CELL BOXGANJ AGENCY P.s-Dowlatpur, Khulna VEQUTIA BRANCH OFFICE BURICHANG AGENCY Pragati Life Insurance Limited Pragati Life Insurance Limited GAYRA BRANCH OFFICE Vill-Balia Vequtia P.o- Vequtia Pragati Life Insurance Limited Girl’s School Road Bank Road, Rashid Bhuiyan Market DAKOP BRANCH OFFICE Vill-Ramkrisnapur Bazer,P.o- Bujtara P.s-Kotuali , Dist-Jessore Khotakhali Bazer, P.o-Bazua P.s-Kalaroa, Dist-Satkhira Jaynal Market (1st Floor) Alam Mansion (1st Floor) (1st Floor) Hussamiah, Nangolkot P.s-Dakop Dist-Khulna. MAIJPARA BRANCH OFFICE Near Busstand, Burichang, Comolla Chouddagram, Comilla. Comilla KHALISKHALI BRANCH OFFICE Rudra Market, Madhawpolly, Maijpara KALINAGAR BRANCH OFFICE Vill+P.o- Sujan Saha Bazer, P.s-Tala Narail B-PARA (COMILLA) AGENCY FENI SADAR AGENCY COX’S BAZAR SERVICING CELL Kalinagar Bazar, Dakup, Khulna Dist-Satkhira Pragati Life Insurance Limited Pragati Life Insurance Limited Pragati Life Insurance Limited FAYLA BRANCH OFFICE MUNSHIGONJ BAZAR Rashid Market (2nd Floor) Chowdhury Market A.B Super Market (2nd Floor) Khulna Mongla Highway Road BRANCH OFFICE Comilla Road, B-Para, Comilla. Mohipal Kacha Bazar Laldighirpar (East) Fayla Bus Stand, P.o-Fayla, P.s-Rampal Munshigonj Bazar, Sham Nagar S.S. K Road, Mohipal Main Road, Cox’s Bazar Bagerhat Satkhira BHUSHCHI BAZAR AGENCY (West side of Mohipal Plaza), Feni DIGHALIA BRANCH OFFICE NARIKEL BARIA BRANCH OFFICE Pragati Life Insurance Limited RAMU AGENCY Vill+ P.o-Chandnimahol, P.s-Dighalia Vill+P.o-Narikel Baria, P.s-Bagharpara Rupali Bank Bhaban (1st Floor) KHILPARA AGENCY Pragati Life Insurance Limited Dist-Khulna Jessore Maddhabazar Road, Bhushchi Bazar Pragati Life Insurance Limited Sreedhanpara, Near Krishi Bank Sadar (South), Comilla Mamun Mansion (G-Floor) (1st Floor), Ramu Sadar, Cox’s Bazar BAZUA BRANCH OFFICE RAIPUR BRANCH OFFICE Khilpara Bazar, Premnal Khotakhali Bazer, P.o-Bazua Vill+P.o-Raipur Bazar, P.s-Bagharpara P.s-Dakop Dist-Khulna Jessore. BARURA SADAR AGENCY Comilla Sadar (South), Comilla TAKNAF AGENCY Pragati Life Insurance Limited Pragati Life Insurance Limited TEROKHADA BRANCH OFFICE SATBARIA BRANCH OFFICE Siddique Mansion (2nd Floor) JUKTIKHOLA AGENCY Naf International (Residence) Vill-Bamondanga, P.o- Bamondanga Bazer Vill-Satbaria Bazer, P.o-Trimohani Near Barura Pourasava, Comilla. Pragati Life Insurance Limited (1st Floor), Room No. 116 & 117 P.s-Rupsha, Dist-Khulna P.s-Kashobpur, Dist-Jessore Hazi Shamsul Haque Market (1st Floor) Bus Station Road, Poursova GILATALA BRANCH OFFICE MANGAL COURT BRANCH OFFICE NANGOLKOT AGENCY Juktikhola Bazar, Nangolkot, Comilla Taknaf, Cox’s Bazar Sundarpur Road, P.o-Gilatala Bazer Vill- P.o-Mangal court Bazer Pragati Life Insurance Limited P.s-Rampal, Dist- Bagerhat P.s-Jhikargasha, Dist-Jessore Hazi Ali Akbar Plaza (2nd Floor) DHANUSARA BAZAR AGENCY CHAKARIA AGENCY West side Bhaban, Nangolkot Bazar Pragati Life Insurance Limited West Side of Arakan Sarak SHEKPURA BRANCH OFFICE TALKHARI BRANCH OFFICE Vill- P.o-Anandanagar, P.s-Rupsha Vill-+ P.o- Talkhari, P.s-Shalikha Nangolkot, Comilla. Alam Mansion (1st Floor) Chiringa, Chakaria, Cox’s Bazar Dist-Khulna. Dist-Magura Fokirhat, Dhanusara Bazar BAGMARA BAZAR AGENCY Chouddagram, Comilla DOMAR (NILPHAMARI) AGENCY CHAKSREE BAZER BRANCH OFFICE PARKRISNAPUR BRANCH OFFICE Pragati Life Insurance Limited Pragati Life Insurance Limited Vill+ P.o-Chaksree Bazer, P.s-Rampal Vill-Parkrisnapur, P.o- Darsana Majumder Market (1st Floor) RAJAPUR AGENCY Panga Bhaban (1st Floor) Dist- Bagerhat P.s-Damurhuda, Dist-Cuadanga Laksam Road, Bagmara Sadar Pragati Life Insurance Limited Dakbanglo Road, Domar, Nilphamari BALIADANGA BRANCH OFFICE GOBRA BRANCH OFFICE Comilla Bhai Bhai Super Market (1st Floor) Krisnanagar, Rugunathpur, kaligonj Vill-+P.o-Gobra Bazer, Mitali Bhabon Rajapur, Dagonbhuiyan, Feni RUHITPUR AGENCY Satkhira P.s+Dist- Narail. KACHUA (CHANDPUR) AGENCY Pragati Life Insurance Limited Pragati Life Insurance Limited MIAHBAZAR AGENCY B-Block, Road # 4, Bhaban # 8 RAMDIA BRANCH OFFICE TULARAMPUR BRANCH OFFICE Harun Avenue Super Market Pragati Life Insurance Limited (1st Floor), Ruhitpur (1310) Vill-Gopalpur Bazer, P.o-Tilchara Vill-+P.o-Tularampur , P.s+Dist- Narail P.s-Kashiani, Dist- Gopalgong Janata Bank Bhaban (1st Floor) Abdul Mazid Super Market (1st Floor) Keraniganj, Dhaka VEQUTIA BRANCH OFFICE Kachua West Bazar, Chandpur (North Side of Kakri Bridge) KATHI BAZER BRANCH OFFICE Vill-Balia Vequtia P.o- Vequtia Tank Road, Miahbazar RANGPUR SADAR AGENCY Kotalipara Road, P.o-Kathi P.s-Kotuali , Dist-Jessore BANGODDA SERVICING CELL Chouddagram, Comilla. Pragati Life Insurance Limited P.s+ Dist- Gopalgong MAIJPARA BRANCH OFFICE Pragati Life Insurance Limited New Cross Road, 34 A.B House KRISNANAGAR BAZER Rudra Market, Madhawpolly, Maijpara Majumder Market (1st Floor) SENBAGH SERVICING CELL (1st Floor), Kamal Kasna, Kotwali BRANCH OFFICE Narail Bangodda Bazar, Pragati Life Insurance Limited Rangpur Vill-Hosenpur, P.o-Rugunathpur Nangolkot, Comilla Sultan Plaza, D.B Road P.s-kaligonj,Dist-Satkhira Important Offices Important Offices

78 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 79 TRUST US FOR LIFE TRUST US FOR LIFE

Islami Deposit Pension Scheme (IDPS) Project Islami Deposit Pension Scheme (IDPS) Project Branch Office Address Branch Office Address NETROKONA AREA Sl No. Name Address Sl No. Name Address 1 Netrokona Area Office Renu Plaza (1st floor), Choto Bazar Dist: Netrokona 29 Ruma Thana Office Ruma Upazilla Parisad Area, PO & PS: Ruma, Dist: Bandarban 2 Kishorgonj District Office Vill: Ishakha Road, P.O, PS: & Dist: Kishorgonj 30 Haludia Unit Office Vill: Baro Doara, P.O: Bazalia, P.S: Satkania, Dist.: Chittagong 3 Atpara Thana Office Atpara Post Office Road , PO & PS: Atpara, Dist: Netrokona 31 Baezit Unit Office Plot No: 6, Sher Shah Colony, PO & PS: Baezit Bostami, Dist: Chittagong 4 Barhatta Thana Office Bikramsree, PO & PS: Barhatta, Dist: Netrokona 32 Amtali Bazar Unit Office Amtali Bazar Unit Office, PO: Pablakhali, PS: Baghaichari, Dist: Rangmati 5 Modon Thana Office Vill & PO: Jahangirpur, PS: Modon, Dist: Netrokona 33 Baghaichari Thana Office P.O: Marisha, P.S: Baghaichari, Dist.: Rangamati 6 Kalmakanda Thana Office Stadium Road, PS: Kalmakanda, Dist: Netrokona 34 Thanchi Bazar Unit Office PO & PS: Thanchi, Dist: Bandarban 7 Thakurakona Unit Office PO: Thakurakona, PS: Netrokona, Dist: Netrokona 8 Dharmapasha Thana Office Vill: Dubawala, PO: Paikorati, PS: Dharmapasha, Dist: Sunamganj BARISAL AREA 9 Netrokona Thana Office 638, New koat road, PS: & Dist: Netrokona 10 Laxmigonj Thana Office Laxmigong Bazar, Dist: Netrokona Sl No. Name Address 1 Barisal District Office 69, Sadar Road, PS: Sadar, Dist: Barisal MYMENSINGH AREA Sl No. Name Address JESSORE AREA 1 Fulbaria Thana Office Fulbaria High School Moar, P.S: Fulbaria, Dist: Mymensingh Sl No. Name Address 2 Biralshak Unit Office Budhar Bazar, P.S: Fulbaria, Dist: Mymensingh 1 Jessore Area Office 4 No. R.N Road, Jessore Sadar, Dist: Jessore 2 Chougacha Thana Office Chougacha Bazar, P.S: Chougacha, Dist: Jessore CHITTAGONG AREA 3 Biddadharpur Unit Office Vill & PO: Biddadharpur, PS: Moheshpur, Dist: Jhenaidah 4 Sharatola Bazar Unit Office Sharatola Bazar, P.O: Pakshia, P.S: Sharsha, Dist: Jessore Sl No. Name Address 5 Kustia District Office Y.M.T. Super Market, 2/6 R.A. Khan Chowdhury Road, Mazampur, Dist: Kushtia 1 Chittagong Servicing Centre Holding No. 4564, Shah Amanat Link Road, Bahaddar Hat, Dist: Chittagong 6 Harinakundu Thana Office Lalan Road, PS: Harinakundu, Dist: Jhenaidah 2 Satkania District Office Poshchim Dhemsha ( Infront of T.N.T), PO & PS: Satkania, Dist: Chittagong 7 Moheshpur District Office Vill + P.O & P.S: Moheshpur, Dist.: Jhenaidah 3 Bashkhali Thana Office West Boilogaon, PO: Banigram, PS: Banshkhali, Dist: Chittagong 8 Sostar Bazar Unit Office P.O: Sostar Bazar, P.S: Moheshpur, Dist: Jhenaidah 4 Chandanaish Thana Office Chandanaish Thana Sadar, Dist: Chittagong 9 Mandartala Unit Office P.O: Habaspur, P.S: Moheshpur, Dist: Jhenaidah 5 Fultala Thana Office Al-modina Shopping Centre (1st floor), Kanchana (Fultala), PS: Satkania, Dist: Chittagong 10 Kaligonj Thana Office Kaligonj Bazar, Jessore Road, PS: Kaligonj, Dist: Jhenaidah 6 Keranihat Thana Office Younus Plaza (3rd Floor), Arkan Road, P.O: Karanihat, Satkania, Dist.: Chittagong 11 Shoilokupa Thana Office Khandaker Market (2nd floor), PS: Shoilokupa, Dist: Jhenaidah 7 Rawshanhat Thana Office Haji Mia Super Market, Rawshanhat, PS: Chandanaish, Dist: Chittagong 12 Coatchandpur Thana Office College Stand, PS: Coatchandpur, Dist: Jhenaidah. 8 Podua Thana Office Siko Shopping Complex (1st floor), PO: Podua, PS: Lohagara, Dist: Chittagang 13 Bhoiraba Unit Office Bhoiraba Bazar, P.S: Moheshpur, Dist: Jhenaidah 9 Eochia Unit Office PO: Deodighi, PS: Satkania, Dist: Chittagang 14 Charpara Bazar Unit Ofiice Vill: Charpara, PO: Bazr porahati, PS: Harinakunda, Dist: Jhenadah 10 Lohagara Dist Office Super Market (1st floor), arkan road, P.S: Lohaga, Dist: Chittagong 15 Nagar bathan unit Office Vill: & PO: Nagar bathan, PS & Dist: Jhenaidah 11 Barokal Unit Office Kalir Hut Bazar, Nuruchsafa Khan Market, Kalirhut Suchia, PS: Chandanaish, Dist: Chittagong 16 Bangadanga Unite Office Bangadanga Bazar, P.O: Nepabazar, P.S: Moheshpur, Dist.: Jhenaidah 12 Amilaish Unit Office East Gatiadanga, PS: Satkania, Dist: Chittagong 13 Bajalia Unit Office Beside Bajalia Station, PS: Satkania,Dist: Chittagong 14 Mirjakhil Unit Office Kalushil Super Market (1st floor), Mirjakhil Bangla Bazar, PS: Satkania, Dist: Chittagong TANGAIL AREA 15 Gunagari Unit Office Vill & PO: Gunagari, PS: Banshkhali, Dist: Chittagong Sl No. Name Address 16 Pukuria Unit Office Vill & PO: Pukuria, PS: Banshkhali, Dist: Chittagong 1 Tangail Area Office House No: 417/1, Nursary Road, Kodalia, PO, PS & Dist: Tangail 17 Chittagong District Office Vill: & PO: Dohajari, PS: Chandanaish, Dist: Chittagong 2 Tangail District Office House No. 01, Road No. 03, Block- G, Sadar Hospital Road, Sabalia, Dist: Tangail 18 Dewanhat Thana Office Dohajari, PS: Chandanish, Dist: Chittagong 3 Bhuapur District Office Vill: Ghatandi, PO & PS: Bhuapur, Dist: Tangail 19 Potia Thana Office Potia Madrasha Road, PS: Potia, Dist: Chittagong 4 Bhuapur Thana Office Falda Bazar, PO: Falda, PS: Bhuapur, Dist: Tangail 20 Rangunia Thana Office Vill: Ichakhali, PS: Rangunia, Dist: Chittagong 5 Bashail Thana Office Nalua Road, P.S: Bashail, Dist: Tangail 21 Cox's Bazar District Office Tarabaniachara, Cox's Bazar Sadar, Dist: Cox's Bazar 6 Kachua Unit Office Kachua Bazar, PO: Kachua, PS: Sakhipur, Dist: Tangail 22 Teknaf Thana Office Puran Pallan Para, PO & PS: Teknaf, Dist: Cox's Bazar 7 Gopalpur Thana Office Jhaoail Moar, P.O: Jhaoail, P.S: Gopalpur, Dist: Tangail 23 Gorjonia Unit Office PO: Gorjonia, PS: Ramu, Dist: Cox's Bazar 8 Hemnagar Unit Office P.O: Hemnagar, P.S: Gopalpur, Dist: Tangail 24 Mohalcahri Thana Office Vill, P.O & P.S: Mohalchari, Dist: Khagrachari 9 Belua Bazar Unit Office P.O: Belua Bazar, P.S: Gopalpur, Dist: Tangail 25 Panchari Thana Office Panchari Bazar, PO P.S: Panchari, Dist: Khagrachari 10 Aiesora Bazar Unit Office Vill & PO : Eyesora, PS: Basail, Dist: Tangail 26 Bandarban District Office Bandarban Bazar, PS: Bandarban, Dist: Bandorban 11 Pingna Unit Office P.O: Pingna Bazar, P.S: Sarisa Bari, Dist: Jamalpur 27 Khagrachari District Office Al-Amin Baria Complex, Court Road, Dist: Khagrachari 28 Lama Thana Office Lama Bazar, Lama Rupsi Para Road, PS: Lama, Dist: Bandarban Important Offices Important Offices

80 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 81 TRUST US FOR LIFE TRUST US FOR LIFE

Islami Deposit Pension Scheme (IDPS) Project Islami Deposit Pension Scheme (IDPS) Project Branch Office Address Branch Office Address RANGPUR AREA DHAKA AREA Sl No. Name Address Sl No. Name Address 1 Rangpur Area Office G. L Ray Road, Sat Matha Moar, P.S: Sadar, Dist: Rangpur 1 Savar Thana Office Dilkusha Super Market, Bazar Bus Stand, P.S: Savar, Dist: Dhaka 2 Mithapukur Thana Office PO: Pairaband, PS: Mithapukur, Dist: Rangpur 2 Ashulia Thana Office Fantasi Kingdom, Jamgara, P.S: Ashulia, Dist: Dhaka 3 Gangachara Thana Office Gangachara Mohila College Road, P.S: Gangachara, Dist: Rangpur 3 Nawgaon Bazar Unit Office Near Nawgaon Bazar High School, P.O: Nawgaon Bazar, P.S: Dhamrai. Dist: Dhaka 4 Kawnia Thana Office Vill: Mahesha, P.O: Mirbag, P.S: Kawnia, Dist: Rangpur 5 Pirgacha Thana Office Vill & P.O: Dewti, P.S: Pirgacha, Dist: Rangpur SIRAJGONJ AREA 6 Mahishalar Moar Unit Office Mahishalar Moar, P.S: Sadar, Dist: Rangpur 7 Sahebganj Unit Office Newsahenganj, Vogirath Machhari, Haragach Road, Tinmatha Moar, P.S: Sadar, Dist: Rangpur Sl No. Name Address 8 Lalmonirhat District Office Patawari Market, Infront of Janata Bank, Goshala Road, P.S: Sadar, Dist: Lalmonirhat 1 Shahjadpur Thana Office Monirampur, P.S: Shahjadpur, Dist: Sirajgonj 9 Nilphamari District Office Upazilla Road, P.S: Kishorganj, Dist: Nilphamari 10 Nilphamari Sadar Thana Office Jordorga Kukha Para, PS: Sadar, Dist: Nilphamari NATORE AREA 11 Jaldhaka Thana Offic Thana Moar, PO & PS: Jaldhaka, Dist: Nilfhamari Sl No. Name Address 12 Taragonj Thana Office Taragonj Bazar Road, PS: Taragonj, Dist: Rangpur 13 Magura Unit Office Dalia Road, Vill & P.O: Magura, P.S: Kishorgonj, Dist: Nilphamari 1 Lalpur Thana Office Modhubari, P.O: Gopalpur, P.S: Lalpur, Dist: Natore 14 Panchpukur Unit Office Nilphamari Road, P.S: Nilphamari Sadar, Dist: Nilphamari 15 Nekbakta Bazar unit Office Jaldhaka Road, PS: Jaldhaka, Dist: Nilphamari 16 Pirganj Thana Office Bangabandhu Road, Vill.: Raghunathpur, P.O & P.S: Pirganj

RAJSHAHI AREA Sl No. Name Address 1 Rajabarihat Thana Office PO: Rajabarihat, PS:. Godagari, Dist: Rajshahi 2 Palpur Unit Office P.S: Dharampur, P.S: Godagari, Dist: Rajshahi 3 Manda Thana Office Ganeshpur, Satihat, P.S: Manda, Dist: Naogaon 4 Shibgong Thana Office Selimabad, P.S: Shibgonj, Dist: Chapai Nawabgonj 5 Monaksha Unit Office Hous Nagar, P.S: Monakasha, P.S: Shibgonj, Dist: Chapai Nawabgonj

BOGRA AREA Sl No. Name Address 1 Bogra District Office Hakir Moar, Nishindara, P.S: Bogra Sadar, Dist: Bogra 2 Sonatala Thana Office Sonatala, P.S: Sadar, Dist: Bogra

NOAKHALI AREA Sl No. Name Address 1 Noakhali District Office Main Road Rashid Coloni, Holding No-267, Fokirpur, Mijedy Road, Noakhali 2 Begamganj Thana Office Chyani Bazar, P.S: Begamganj, Dist: Noakhali 3 Charkormullah Thana Office Charkurmullah Bazar, P.S & Dist: Noakhali 4 Khalifar Hat Unit Office Khalifar Hat, P.S: Sadar, Dist. Noakhali

FENI AREA Sl No. Name Address 1 Natun Munsir Hat Unit Office Natun Munsir Hat Unit Office, Vill: Fotepur, P.O: Natun Munsir Hat, P.S: Fulgazi, Dist: Feni Important Offices Important Offices

82 Annual Report Pragati Life Insurance Ltd. Pragati Life Insurance Ltd. Annual Report 83 TRUST US FOR LIFE

TRUST US FOR LIFE PANCHAGARH Important Offices

TRUST US FOR LIFE NILLPHAMARI

TRUST US FOR LIFE THAKURGAON TRUST US FOR LIFE LALMONIRHAT Pragati Life Insurance Ltd. TRUST US FOR LIFE

TRUST US FOR LIFE KURIGRAM

TRUST US FOR LIFE TRUST US FOR LIFE Corporate Head Office DINAJPUR RANGPUR

TRUST US FOR LIFE GAIBANDHA

TRUST US FOR LIFE

JAIPURHAT TRUST US FOR LIFE

TRUST US FOR LIFE SHERPUR TRUST US FOR LIFE TRUST US FOR LIFE SUNAMGANJ NAOGAON SYLHET

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Bay of Bengal

84 Annual Report Pragati Life Insurance Ltd. PRAGATI LIFE INSURANCE LIMITED TRUST US FOR LIFE Pragati RPR Center (6th Floor), 20-21 Kawran Bazar, Dhaka1215

PROXY FORM

I/ We ...... of ...... being a Public Shareholder(s) of Pragati Life Insurance Limited and entitled to vote hereby appoint

Mr./Mrs./Miss ...... of ......

...... as my/our proxy to attend and vote for me/us and on my/our behalf at the 9th Annual General Meeting of the Company to be held on the Sunday, the 27 September 2009 at 12:00 noon at the Jamuna Resort Ltd. Bhuapur, Tangail or at any adjournment thereof.

As witness my/our hand this ...... day of ...... 2009 Revenue Stamp Tk. 8.00

...... Signature of the Proxy Signature of Shareholder(s) BO ID: ...... BO ID: ...... No. of Shares held: ...... Notes: A member entitled to attend and vote at the meeting may appoint another member his/her proxy to attend and vote on his/her behalf. Forms of proxy, duly stamped and signed must be deposited at the Company’s Registered Office not later than 72 hours before the time appointed for the Meeting. In default forms of proxy will not be treated as valid.

...... Authorised Signature Signature Verified Pragati Life Insurance Ltd.

PRAGATI LIFE INSURANCE LIMITED TRUST US FOR LIFE Pragati RPR Center (6th Floor), 20-21 Kawran Bazar, Dhaka1215 ATTENDANCE SLIP

I/We hereby record my/our attendance at the 9th Annual General Meeting of Pragati Life insurance Limited on the 27 September 2009 at the Jamuna Resort Ltd., Bhuapur, Tangail.

Name of Proxy...... Name of Shareholder(s) ......

BO ID: ...... No. of Shares held: ......

BO ID: ...... BO ID: ......

Signature ......

N.B. Please present this slip at the Registration Counter and sign which must be matched with your recorded signature which has scanned