Brac Bank to launch 'Loan Protection'
Brac Bank Ltd and Pragati Life Insurance Ltd recently signed a memorandum of understanding (MoU), under which the bank will work in synergy with the insurance company for 'Loan Protection' under the bank's Retail Banking Division.'Loan Protection' will provide insurance coverage for loan commitments in case of death or terminal illness of the borrowers, says a press release. Imran Rahman, managing director and CEO of Brac Bank, and M Shefaque Ahmed, managing director of Pragati Life Insurance, signed the MoU on behalf of their companies while other senior officials were present.
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