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City Bank gets BB approval to deal in Bancassurance

Published : Friday, 26 January, 2024 at 12:00 AM  Count : 389
Business Desk
City Bank has received approval from Bangladesh Bank today to start Bancassurance business with Guardian Life Insurance Ltd. This is the first approval of its kind received by any bank in the country.

This approval will allow City Bank to market and sell insurance products from its branches and other channels very soon after receiving the necessary nod from Insurance Development and Regulatory Authority (IDRA).

Mohammad Shahriar Siddiqui, Director, Banking Regulation and Policy Department (BRPD) of Bangladesh Bank handed over the approval document to Sheikh Mohammad Maroof, AMD and Chief Business Officer of City Bank recently, says a press release.
 
Also present were Mohammad Ashfaqur Rahman, Additional Director, Banking Regulation and Policy Department (BRPD) of Bangladesh Bank and Subir Kumar Kundu, Chief Bancassurance Officer, City Bank and other high officials from both organizations.



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