Eastern Bank (EBL) obtained the licence from the Insurance Development and Regulatory Authority (IDRA) to start bancassurance business with MetLife and Green Delta Insurance Company Ltd, according to a statement.
EBL is the first bank in Bangladesh to get a bancassurance licence for both life and non-life categories.
Bancassurance is a partnership between a bank and an insurance company where a bank sells insurance products through its distribution channels.
It is a new scope for EBL to diversify its income stream by earning commission-based income without any additional risk, capital or liquidity.
EBL gets bancassurance licence
FE DESK | Published: February 08, 2024 00:05:20
EBL gets bancassurance licence
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