BRAC Bank plans insurance for 50,000 women remittance recipients by 2025
BRAC Bank aims to provide life and health insurance coverage to 50,000 women remittance beneficiaries by 2025 as part of its plan to incorporate more value-added services to its comprehensive remittance services.
In first-of-its-kind insurance benefits to remittance receivers, the bank has partnered with Green Delta Insurance to add insurance perks to its newly introduced TARA Probashi Poribar proposition.
Through this partnership, women receiving foreign remittances will be entitled to complimentary insurance benefits, including life coverage of up to Tk 2 lac, annual health insurance worth up to Tk 50,000, maternity care, and both outpatient (OPD) and inpatient (IPD) medical treatment.
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These benefits are built within the TARA Probashi Poribar Account—a purpose-designed solution tailored to the financial needs of women who manage remittance funds at home. Alongside insurance, the account offers debit card and internet banking facilities, as well as monthly interest on savings, encouraging financial inclusion and formal saving behaviour.
Currently, nearly 60,000 women receive remittances directly through BRAC Bank, accounting for 35% of the bank's total remittance-receiving account holders. This growing customer base spans across key remittance-heavy districts including Sylhet, Feni, Noakhali, Cumilla, Chattogram, Munshiganj, Faridpur, Gazipur and Tangail.
The insurance benefits to the TARA Probashi Poribar Account will encourage wage earners to send their hard-earned foreign currency through the banking channel, thereby enhancing the remittance inflow needed to bolster the country's foreign currency reserves.
Md. Shaheen Iqbal CFA, Deputy Managing Director and Head of Treasury and Financial Institutions at BRAC Bank, remarked, "TARA Probashi Poribar is our commitment to recognise women's role in the remittance flow, institutionalise care, and ensure woman gets appropriate service and protection. By bringing Insurance into a comprehensive remittance proposition, we are protecting lives, empowering families, and ultimately serving remittance earners and their families."
This inclusive initiative reflects a long-term vision to provide ancillary benefits to remittance customers, particularly women, who are central to Bangladesh's remittance economy, acknowledging their contributions and further amplifying their role in national progress.
