MTB, Guardian Life Insurance ink Bancassurance deal
With the promise to offer integrated financial services to the people of Bangladesh, Mutual Trust Bank PLC (MTB) and Guardian Life Insurance Limited have inked a Bancassurance agreement.
Bancassurance is a partnership between a bank and an insurance company whereby the bank sells insurance products through its distribution channels.
The deal was inked on 25 January at Mutual Trust Bank PLC (MTB)'s head office, reads a press release.
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According to the release, the deal will play a substantial role in creating awareness about insurance and positively contribute to the overall economic development and risk mitigation of the countrymen.
Syed Mahbubur Rahman, managing director and CEO of MTB, and Sheikh Rakibul Karim, FCA, CEO of Guardian Life Insurance Limited were present at a simple ceremony held at MTB Centre, the Bank's Corporate Head Office, Gulshan 1, Dhaka 1212. Among others, Md. Shafquat Hossain, DMD & Head of Retail Banking, Md. Bakhteyer Hossain, DMD & COO, Md. Shamsul Islam, DMD & Head of Treasury, Usman Rashed Muyeen, DMD & Head of Credit Risk Management and Abdul Mannan, Head of Branch Banking Division, from MTB and Mahmudur Rahman Khan, Head of Retail Business, M. Saud Imran, Chief Operating Officer and Ahmed Istiaque Mahmud, Head of Bancassurance, Majedur Rashid Chowdhury, Head of Finance & Accounts and Tahsinur Rahim, Head of Internal Audit & Compliance from Guardian Life Insurance Limited along with other high officials were also present at the ceremony.
