The condition of the financial institutions of our country is very turbulent. The overall condition of the country's banking and non-banking financial institutions are fragile day by day. The defaulted loans and advances and provision shortfall of banks and NBFIs are increasing day by day. Its reflection is having an impact on our country's overall economy. The investment capacity of banks and non-banking financial institutions has declined, defaulted debt collection rates are escalating and debt written off rates are increasing and recovery rates are decreasing. Due to this, the investment capacity of banks and NBFIs has been abbreviating. Since the global Covid-19 pandemic affects the development sectors are moving at a slow pace so that employment has shrunk and the number of jobless people has been steadily rising. The impacts of macroeconomic activities will be far-reaching. People's living standards and poverty rates will be distended. The regulators of the capital market have been suffering from poor managerial expertise, low capability, and proficiency, inactive, inefficient and weak management as well as the inadequate implementation of formulated laws, acts, ordinances, rules, and regulation over the securities market and business is viewed as a major reason for which it is hindering the healthy development of the capital or stock market. Therefore, we should follow the national and international norms, codes, principles, rules, and regulations to establish good corporate governance for the development of the sustainable capital market. Insurance is a system of spreading the risk of one to the shoulders of many. The weakness of the laws have created confusion among the common people regarding insurance in our country as there is no benefit to do make in policy insuring. Sometimes people are not getting their money back due to legal complications when they are failed to pay the premium. On the other hand, agents or brokers try to manipulate people in any way they can just to achieve their defined targets. Such types of evidence have created misconceptions among the common people. So that, the insurance industry did not spread in our country as desirably. Weaknesses in insurance laws need to be addressed. Otherwise, the insurance industry in our country will not break the common man's mistakes; hence, the insurance industry will not be able to gain expansion and popularity. Corporate culture is a vital component for reinforcing appropriate norms for responsible and ethical behaviour. These norms are especially critical in terms of risk awareness, risk-taking behaviour, and risk management. An organization should determine a code of conduct or code of ethics, or comparable policy, acceptable behaviours. It should explicitly disallow illegal activities such as financial misreporting, financial crime including
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fraud, money laundering, bribery, and violation of consumer rights. It should make clear that employees will direct themselves ethically and perform their job with skill and due care and diligence. By which it creates scope to criticize companies' defined corporate values related to conduct rules and regulations and policies. This is the age of globalization, the development of information and communication technology, and the 21st-century era, we should create connectivity with big corporations of different countries over the world corporate culture and should formulate policies of modern corporate culture to break-down the barriers of the implementation of good corporate culture practice in Bangladesh. As per Bangladesh Bank's prescribed audit manual, every bank and non-banking financial institution inspects its head office and branches by the Internal Controls and Compliance Department (ICCD). According to the Bank Companies Act-1991 (up to date 2019), The central bank's Bank Inspection Department is the sole authority to inspect the bank's all sorts of performances as well as check the audit reports of the banks too. As the central bank's Internal Audit Department checks the inspection reports of the Bank Inspection Department contains governance structures and principles that identify the distribution of rights and responsibilities among different participants in the corporation. As we have independent ineffective, inefficient, inconsistent, and fragile corporate governance. It is needed to be adjusted to the international standards to get rid of grey areas of corporate governance. The single-digit focus of the components of a bank is the most important factor to know about the proper management and operational aspects. It will make it easier for the bank's management and board of directors to make decisions and implement them which ensures the responsibility, accountability, transparency, and fair just of the management and the Board of Directors. As a result, the bank's mission, vision, profitability, business success, and smooth running will be achieved. Every bank should nurture the relationship at each of these levels can lead to the outcomes and benefits. In this book, I have tried to highlight the activities of financial institutions and the weaknesses of their policy. I believe if the financial sector's officials and all concerned study the book, they will be benefitted. This book can also be read as a handbook by university-level students. However, it is up to the readers to evaluate how well the book is written. I would like to express my special gratitude to Emran Ahmed, Vice- President, and Rokibul Hasan Chowdhury, Senior Officer, Southeast Bank Limited for their overall cooperation in publishing this book. Shakil Kalam November, 2020