Midland Bank receives Bancassurance Business Approval from Bangladesh Bank

Midland Bank PLC has received ‘Bancassurance Business Commencement Approval’ from Bangladesh Bank.

Mohammad Shahriar Siddiqui, Director of Banking Regulation and Policy Department (BRPD) of the Central Bank, handed over the approval letter to Md. Rashed Akter, Head of Retail Distribution and Chief Bancassurance Officer (CBO) of Midland Bank, at a function held at BB headquarters in Motijheel recently, according to a press release.  

Bancassurance is a partnership between a bank and an insurance company that allows the former to sell products of insurance companies through its distribution channels.

Among others, Ms. Shamima Sharmin, Additional Director, Mr. Ashraful Alam, Joint Director of BRPD of the Central Bank and Syed Saquibuzzaman, Manager of Islami Banking Window, Khondoker Imran Hossain, Bancassurance Manager of Midland Bank, among others, were also present at the programme.