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Mutual Trust Bank PLC (MTB) Launches Bancassurance Service

Mutual Trust Bank PLC (MTB) proudly announces the launch of its Bancassurance service, marking a significant milestone in the banking and insurance sector in Bangladesh. Syed Mahbubur Rahman, Managing Director & CEO, Chowdhury Akhtar Asif, Additional Managing Director & GCRO and Md. Khalid Mahmood Khan, Additional Managing Director & CBO of MTB alongside the Bank’s Senior Management team, inaugurated the service at a ceremony held at its Corporate Head Office recently. Customers will be able to access the Bancassurance services at selected MTB Branches from July 02, 2024.

Bancassurance is a collaborative arrangement between banks and insurance companies, allowing the banks to offer insurance products through their distribution channels. With the recent approval from Bangladesh Bank, MTB joins a selected group of banks authorized to provide such services. MTB has partnered with leading life and non-life insurance companies such as Guardian Life Insurance Limited, Pragati Life Insurance Ltd, and Green Delta Insurance Company Ltd, to offer a comprehensive range of insurance products to its customers.

“We are thrilled to introduce Bancassurance to our valued customers,” said Syed Mahbubur Rahman. “This initiative will not only enhance our service offerings but also contribute to the broader economic development of Bangladesh by promoting financial security and risk management.”

MTB’s entry into the Bancassurance market is expected to provide customers with greater convenience and trust, as they can now purchase insurance products directly from their trusted banking partner. This service aims to increase insurance penetration in Bangladesh, providing financial protection and peace of mind to a wider audience.

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