Business Desk :
In a move that promises to reshape the financial services landscape in Bangladesh, Brac Bank and Green Delta Insurance Company have signed a Bancassurance agreement.
The deal was signed at Green Delta’s head office in the capital recently.
Under the deal, Brac Bank customers to purchase a range of non-life insurance products of Green Delta Insurance directly through the bank.
These products include health insurance, motor insurance, crop insurance, and travel insurance etc., reflecting a broad spectrum of everyday needs and contingencies.
Customers can access these services across Brac Bank’s extensive network, including its branches, SME Units, and Agent Banking outlets.
A prerequisite for these selling points is the presence of Bancassurance Officers or Managers within Brac Bank, certified by the Insurance Development and Regulatory Authority (Idra.)
The initial contract spanned three years and was officially signed by Selim RF Hussain, MD and CEO of Brac Bank, and Farzanah Chowdhury, MD and CEO of Green Delta Insurance Company.
The signing ceremony was graced by guests including Nasir Ahmed Choudhury, advisor & founding managing director of Green Delta Insurance Company; Syed Abdul Momen, deputy managing director and head of SME Banking at Brac Bank; Mahiul Islam, deputy managing director and head of retail banking at Brac Bank; Syed Moinuddin Ahmed, additional managing director of Green Delta Insurance; Wafi Shafique Menhaz Khan, managing director & CEO of Green Delta Securities Limited, and other senior officials from both organizations.
Selim RF Hussain emphasized this partnership’s transformative nature: “As we partner with Green Delta Insurance Company, Brac Bank reiterates its dedication to sustainable, inclusive banking. This Bancassurance collaboration is not just a business venture; it is a commitment to the economic empowerment of our people. By integrating banking with insurance, we are revolutionizing Bangladesh’s financial landscape and fortifying our nation’s journey towards a Smart Bangladesh.
