TBT DESK:
Shanta Life Insurance PLC, a new venture under the renowned corporate house Shanta Holdings, signed an MoU with Dhaka Bank, one of the esteemed banks of Bangladesh to provide Bancassurance service through the Bank's distribution channel.
Sheikh Mohammad Maroof, managing director & CEO of Dhaka Bank and Nafis A Ahmed, chief executive officer of Shanta Life Insurance, signed the MoU at the bank's head office in Dhaka recently.
Through this MoU, Shanta Life Insurance intends to leverage the robust banking channel of Dhaka Bank to provide tailored insurance policies to the clients of the latter. This proposition will help to offer more financial products to the customers of the bank.
Sheikh Mohammad Maroof, managing director & CEO, of Dhaka Bank said "Bancassurance enhances financial protection by integrating banking and insurance services. Dhaka Bank's collaboration with Shanta Life will provide customers with convenient, customised insurance solutions, promoting financial security and risk management. This partnership reflects our commitment to innovation and expanding financial inclusion across Bangladesh."
"Bancassurance is the new horizon for the insurance sector in Bangladesh. We are hoping such institutional arrangement will benefit the customers in the long run," said Nafis A Ahmed, CEO, of Shanta Life Insurance.
This MoU will be a starting point to build a complete framework to deliver smooth bancassurance service to customers along with knowledge building of bank employees. Bancassurance will allow clients of the bank to purchase insurance policies through the banking channel.
The collaboration will further strengthen the partnership between the insurer and the bank, bringing more depth into this relationship, it added.
The signing event was graced by other high officials of both companies.