MTB received Bancassurance Business Commencement Approval with highest number of insurance partners

With the promise to offer integrated financial services to the people of Bangladesh, Mutual Trust Bank PLC (MTB) has received Bancassurance Business commencement approval from Bangladesh Bank.

Bancassurance is a partnership between a bank and insurance companies whereby a bank will be able to sell insurance products through its distribution channels. With the approval, MTB joins only with a small group of banks who are awarded such approvals.

To offer a wide range of products to its customers, MTB has partnered with leading Life and Non-Life insurance companies, namely Guardian Life Insurance Limited, Pragati Life Insurance Ltd and Green Delta Insurance Company Ltd. Being one of the most recognized brands of the banking sector of the country, MTB hopes to cater to the needs of insurance requirements of its customers while leading to promote this new proposition, Bancassurance, in Bangladesh's market.   

Mohammad Shahriar Siddiqui, Director, BRPD, Bangladesh Bank handed over the approval letter to Md. Shafquat Hossain, Deputy Managing Director and Head of Retail Banking Division of MTB at a simple ceremony held at Bangladesh Bank. Mohammad Ashfaqur Rahman, Additional Director, BRPD, Bangladesh Bank, Ashraful Alam, Joint Director, BRPD, Bangladesh Bank, Tahsin Shahid, Chief Bancassurance Officer, MTB and Khandaker Faizulla Hes Samy, Head of Bancassurance, MTB were also present at the ceremony.