Eastern Bank partners with Akij Takaful to offer Islamic life insurance

Eastern Bank PLC (EBL) has entered into a strategic bancassurance partnership agreement with Akij Takaful Life Insurance PLC to offer a suite of Shariah-compliant life insurance products to its clientele.

M Khorshed Anowar, deputy managing director and head of retail and SME banking and chief bancassurance officer at EBL, and Mohammad Masuduzzaman Khan, deputy managing director and chief corporate business officer of the life insurance, signed the agreement at the bank's head office in Dhaka today, according to a press release.

Through this collaboration, EBL customers will gain access to a range of Islamic life insurance solutions, designed in accordance with Shariah principles.

The introduction of Takaful offerings across EBL's extensive branch network is expected to significantly enhance accessibility, enabling a wider segment of the population to secure financial protection in a manner aligned with their faith-based values.

AKM Mizanur Rahman, deputy chief of Islamic banking at the bank; and Md Raquib, head of bancassurance and student banking; and Shazzadul Karim, acting CEO of the life insurance; Abdus Salam Khondoker, head of finance and accounts; and Md Kamruzzaman, assistant vice-president; among others, were present.