EBL, Akij Takaful roll out Islamic insurance via bancassurance

Eastern Bank PLC (EBL), in partnership with Akij Takaful Life Insurance PLC, has launched shariah-compliant Takaful insurance solutions through its banking channel.

Asifur Rahman, vice-chairman and independent director of Akij Takaful Life Insurance, and M Khorshed Anowar, deputy managing director and head of retail and SME banking at EBL, inaugurate the solution at the launch ceremony held at the bank’s head office in Dhaka recently, according to a press release.

Anowar said the partnership reflects EBL’s commitment to delivering inclusive and value-driven financial solutions.

“By incorporating Shariah-compliant Takaful products into our banking ecosystem, we are expanding customer choice while advancing ethical finance and financial inclusion in Bangladesh,” he added.

Under the bancassurance arrangement, EBL customers will be able to access Islamic Takaful insurance products directly from the bank’s branches, ensuring seamless integration of banking and insurance services on a single platform.

The initiative is expected to enhance customer convenience, promote financial inclusion, and meet the growing demand for ethical and Shariah-compliant financial protection solutions in the country.

AKM Mizanur Rahman, deputy chief of EBL Islamic Banking at the bank; Sarmin Atik, head of liability and wealth management, attended the event.

Mir Mahfuzur Rahman, director of the life insurer; Muhammad Fuad Hussain, director; Mohammad Shazzadul Karim, managing director and CEO; Mohammad Masuduzzaman Khan, additional managing director and chief corporate business officer; and Md Kamruzzaman, vice-president and head of sales, bancassurance, along with senior officials from the bank and the insurer, were also present.