LIC closes Bangladesh office amid deadly clashes, Hasina resignation

India's public sector giant LIC (Life Insurance Corporation) on Monday said its office in Bangladesh will remain closed until 7 August, amidst reports that Prime Minister Sheikh Hasina has resigned and left the country in an army helicopter.

Over 100 people have been killed in the last two days in fierce clashes between security forces and anti-government protesters in different parts of Bangladesh, according to reports from Dhaka.

In a regulatory filing, LIC said, "The office of LIC of Bangladesh Ltd will remain closed during the period from August 05, 2024 to August 07, 2024, due to the prevailing socio-political situation in Bangladesh."

The government of Bangladesh had declared a curfew for three days from 5 to 7 August, LIC said.

The students' protests in Bangladesh started last month against a controversial job quota scheme. The protests now have turned into an anti-government agitation.

Shares of LIC closed at Rs 1,110, down 6.10 per cent over the previous close on the BSE.

The fresh round of clashes erupted days after violent clashes between the police and mostly student protesters demanding an end to the controversial quota system that reserved 30 per cent of government jobs for relatives of veterans who fought in Bangladesh's War of Independence in 1971. Since then, more than 11,000 people have been arrested.

The protests lead to the government to order the shutdown of Meta platforms Facebook, Messenger, WhatsApp and Instagram. The mobile operators were ordered to shut down 4G mobile internet, leading Bengali-language newspaper Prothom Alo reported.