Southeast Bank inks deal with Eastland Insurance

Southeast Bank Ltd signed a memorandum of understanding (MOU) with Eastland Insurance Company Ltd at the bank's head office in Dhaka to provide payroll banking services, collection services, payment services and other banking services.

Under this agreement, employees and executives of Eastland Insurance will get their salaries and other benefits through SEBL payroll banking service. Policyholders of the insurance company will also be able to deposit their premiums through the bank's wide range of delivery channels.

Eastland Insurance Company can also make vendor payments, claims settlements and make any kind of fund transfer through the corporate payment module system.

Nuruddin Md Sadeque Hossain, managing director of Southeast Bank, and Abdul Haque, CEO & managing director of Eastland Insurance, exchanged the agreement on behalf of their respective organisations, read a press release.

Masum Uddin Khan, deputy managing director of Southeast Bank, and other senior officials of both the organisations were present at the ceremony.