Friday, 1 July, 2022

BRAC Bank signs deal with JBC

  • Staff Correspondent
  • 20 June, 2022 12:00 AM
  • Print news

BRAC Bank has signed an agreement with Jiban Bima Corporation (JBC) to collect insurance premiums through BRAC Bank’s various physical and digital channels along with the bank’s subsidiary, bKash.

Under the arrangement, the JBC policy-holders across the country can now pay insurance premiums through bKash app and USSD code *247#.

In addition, JBC can collect the premium from its policy holder’s bank account through the ‘Direct Debit Pull’ service of BRAC bank.

The arrangement enables JBC with real-time accounts reconciliation as BRAC Bank and bKash have established API connectivity with JBC’s central accounts management system.

bKash and ‘Direct Debit Pull’ solutions were formally launched at a ceremony at The Westin Dhaka recently.

Sheikh Mohammad Salim Ullah, Secretary, Financial Institutions Division, Ministry of Finance, was the chief guest.

Md Asadul Islam, Chairman (Former Senior Secretary), Jiban Bima Corporation, was present as the special guest.

Md Saiful Islam, Managing Director (Additional Secretary), Jiban Bima Corporation; Selim RF Hussain, Managing Director and CEO, BRAC Bank, Major General (retd) Sheikh Md Monirul Islam, Chief External and Corporate Affairs Officer, bKash Limited; and Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate Banking, BRAC Bank; were also present at the event.