BRAC Bank sets benchmark in secure inclusive banking
BRAC Bank has partnered with Pragati Insurance Limited to insure its entire Agent Banking network, becoming the first bank in Bangladesh to launch such a comprehensive initiative, as directed by Bangladesh Bank.
All BRAC Bank Agent Banking outlets are now protected by Cash-in-Safe and Cash-in-Transit insurance, ensuring customers' deposits are safeguarded at all times. This protection means that, in the event of any unforeseen incidents, such as theft or loss, customers will receive prompt compensation, minimising disruption and worry. These measures reflect the bank's commitment to secure, transparent, and customer-focused banking services nationwide.
The agreement was signed on August 28 at BRAC Bank's head office by the CEOs and senior officials of both organisations.
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Senior officials from both organisations attended the ceremony.
"As a leader in inclusive banking, we are proud to be the first in the industry to introduce full insurance cover for our agent network. This assures customers that their deposits remain secure," said Tareq Refat Ullah Khan.
BRAC Bank operates 1,121 Agent Banking outlets nationwide, bringing formal banking services to unbanked and underbanked communities in remote areas. With the introduction of this comprehensive insurance, customers can conduct transactions with greater confidence, knowing their funds are protected against potential risks.
The initiative enables rural and semi-urban customers to access secure financial services, bringing peace of mind and strengthening trust in the bank's mission to offer safe, inclusive, and reliable banking.
