Shanta Life Insurance and Dhaka Bank sign MoU

Shanta Life Insurance PLC, a new venture under the renowned corporate house Shanta Holdings, signed an MoU with Dhaka Bank, one of Bangladesh's esteemed banks, to provide Bancassurance service through the Bank's distribution channel.

Sheikh Mohammad Maroof, managing director and CEO of Dhaka Bank, and Nafis A Ahmed, chief executive officer of Shanta Life Insurance, recently signed the MoU at Dhaka's head office.
Through this MoU, Shanta Life Insurance intends to leverage Dhaka Bank's robust banking channel to provide tailored insurance policies to the latter's clients. This proposition will help the bank offer more financial products to its customers.
Sheikh Mohammad Maroof, Managing Director and 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 hope such institutional arrangements will benefit the customers in the long run," said Nafis A. Ahmed, CEO of Shanta Life Insurance. 
This MoU will be a starting point for building a complete framework to deliver smooth bancassurance service to customers and increase the knowledge of bank employees. Bancassurance will allow bank clients to purchase insurance policies through the banking channel. 

It added that the collaboration would further strengthen the partnership between the insurer and the Bank, bringing more depth to this relationship. Other high officials of both companies graced the signing event.