Bangladesh Turmoil: LIC Announces Office Closure Amid Curfew

LIC's Bangladesh office will be shut from August 5 to 7 amid violent clashes and a government-imposed curfew. Over 100 deaths have been reported due to protests against a job quota scheme that have escalated into anti-government demonstrations. LIC shares dropped 6.10% on BSE.

Public sector LIC announced on Monday that its office in Bangladesh will remain closed until August 7.

Fierce clashes between security forces and anti-government protesters in different parts of Bangladesh have resulted in over 100 deaths in the last two days, according to reports from Dhaka.

In a regulatory filing, LIC stated, ''The office of LIC of Bangladesh Ltd will remain closed from August 5, 2024, to August 7, 2024, due to the prevailing socio-political situation in Bangladesh.'' The Bangladeshi government has imposed a curfew for this three-day period.

The protests, which began last month over a controversial job quota scheme, have evolved into a wider anti-government movement.

Meanwhile, shares of LIC closed at Rs 1,110, a 6.10% drop from the previous close on the BSE.