BRAC Bank to collect insurance premium of Akij Takaful Life Insurance

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

The valued policy-holders 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 of BRAC Bank; and Md Alamgir Chowdhury, managing director & CEO of Akij Takaful Life Insurance; signed the agreement on behalf of respective organisations at the bank's head office in Dhaka on 8 June. 

Over the last couple of years, BRAC Bank has enhanced its Transaction Banking capability by providing various collection and payment solutions for the insurance industry. Direct Debit Pull, the bank's one of the digital collection solution, has played a pivotal role in starting this new partnership. 

Jabedul Alam, head of Transaction Banking; Musabbir Ahmed, team lead, Transaction Banking of BRAC Bank; Mohammad Masuduzzaman Khan, DMD and chief operations officer; 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.