BRAC Bank will collect insurance premium from Akij Takaful Life Insurance

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BRAC Bank has signed an agreement with Akij Takaful Life Insurance Limited to collect insurance premiums through its various digital and alternative banking channels.

Valuable policyholders of Akij Takaful Life Insurance will now be able to pay insurance premiums across the country, reads a press release.

Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate Banking at BRAC Bank; and Md Alamgir Chowdhury, Managing Director and CEO of Akij Takaful Life Insurance; signed the agreement on behalf of the respective organizations at the bank’s head office in Dhaka on June 8.

Over the past two years, BRAC Bank has enhanced its banking transaction capability by providing various collection and payment solutions for the insurance industry. Direct Debit Pull, one of the bank’s digital collection solutions, played a central role in starting this new partnership.

Jabedul Alam, Head of Banking Transactions; Musabbir Ahmed, Team Leader, Transaction Banking of BRAC Bank; Mohammad Masuduzzaman Khan, DMD and Director of Operations; Md Abdus Salam Khondoker, EVP and Head of Finance and Accounts of Akij Takaful Life Insurance and other officials from both companies were also present at the ceremony.

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