BRAC Bank to collect premiums of Prime Islami Life Ins

BRAC Bank has signed an agreement with Prime Islami Life Insurance Limited to collect insurance premiums through its various digital and alternate banking channels.

Prime Islami Life Insurance is A+ rated life insurance company with 400+ branch offices and more than 6 lakh policyholders. With the agreement, the valued policyholders of Prime Islami Life Insurance will now be able to pay insurance premiums at BRAC Bank's various digital channels and Agent Banking outlets across the country.

Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate Banking of BRAC Bank; and Md. Apel Mahmud, Managing Director & CEO, Prime Islami Life Insurance; signed the agreement on behalf of respective companies at the bank's Head Office in Dhaka recently.

Over the last couple of years, BRAC Bank has enhanced its Transaction Banking capability by providing various collection and payment solutions for the insurance industry. Direct Debit Pull, the bank's one of the digital collection solution, has played a pivotal role in starting this new partnership. The bank's capacity for API integration for collection reconciliation has facilitated the bank to start this new relationship.

Nazmur Rahim, Head of Alternate Banking Channels; Jabedul Alam, Head of Transaction Banking of BRAC Bank; and Kazi Abul Manjur, Asstt. Managing Director; Md. Shahidur Rahman, EVP & In-charge (Actuarial & Group Insurance); Amir Faisal M Zakaria, EVP & In-charge (Information Technology) of Prime Islami Life Insurance; and other officials from both companies were also present at the signing ceremony.