Eastern Bank has obtained a bancassurance licence from the Insurance Development & Regulatory Authority (IDRA) to start bancassurance business with insurance companies.
Bancassurance will open a new horizon for the insurance industry in Bangladesh as the collaborative arrangement will help insurers expand their coverage at low cost, according to industry people.
The insurance regulator has asked Sonali Life Insurance to explain why the board of directors of the company should not be suspended after failing to provide necessary information to an audit firm appointed by the regulator.
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