BRAC Bank brings Agent Banking outlets under insurance coverage

BRAC Bank has partnered with Pragati Insurance Limited to bring its entire Agent Banking network under insurance coverage, becoming the first bank in Bangladesh to do so.

All 1,121 BRAC Bank Agent Banking outlets will now be covered by Cash-in-Safe and Cash-in-Transit insurance, in line with Bangladesh Bank's directive, says a press release.

The coverage will strengthen financial security and instils greater trust and confidence among customers, and reaffirms BRAC Bank's commitment to safe and inclusive banking for communities across the country.

The agreement was signed on August 28 at BRAC Bank's head office in Dhaka by Tareq Refat Ullah Khan, Managing Director and CEO of BRAC Bank, and Syed Sehab Ullah Al-Manjur, CEO of Pragati Insurance Limited.

Senior officials from both organisations attended, including Nazmur Rahim, Deputy Managing Director and Head of Alternate Banking Channels; Md. Nazmul Hasan, Head of Agent Banking; Md. Abu Taher Mridha, Head of Account Services; and all Regional Coordinators of the Agent Banking Department. Pragati Insurance was represented by Amar Krishna Shil (FCA), AMD and Chief Financial Officer, and Sharif Mustaba, Deputy Managing Director.

BRAC Bank said the move reaffirms its commitment to safe and inclusive banking, providing customers with added confidence that their deposits are secure.