Prime Bank receives bancassurance business approval from central bank

Prime Bank PLC has recently received bancassurance business commencement approval from Bangladesh Bank. Mohammad Shahriar Siddiqui, Director, BRPD, Bangladesh Bank, handed over the approval letter to Nazeem A Choudhury, Deputy Managing Director - Consumer Banking of Prime Bank, at a ceremony held at Bangladesh Bank recently. Mohammad Ashfaqur Rahman, Additional Director, BRPD, Bangladesh Bank, Ashraful Alam, Joint Director, BRPD, Bangladesh Bank, Miah Mohammad Rabiul Hasan, Chief Bancassurance Officer, Prime Bank PLC, were also present. Bancassurance is a partnership between a bank and insurance company that will allow a bank to sell insurance products of the insurance company through its distribution channels. To offer a wide range of products to its customers and ensure best in class service, Prime Bank has partnered with leading insurance companies National Life Insurance Company Ltd. and Reliance Insurance Ltd.