Prime Bank PLC has recently received approval from Bangladesh Bank (BB) to start a bancassurance business.
 Mohammad Shahriar Siddiqui, director, BRPD, Bangladesh Bank, handed over the approval letter to Nazeem A Choudhury, deputy managing director, Consumer Banking, Prime Bank PLC at a ceremony held at Bangladesh Bank in the capital recently, said a press release.
 Mohammad Ashfaqur Rahman, additional director, BRPD, Bangladesh Bank, Ashraful Alam, joint director, BRPD, Bangladesh Bank, and Miah Mohammad Rabiul Hasan, chief bancassurance officer, Prime Bank, were also present at the ceremony.
Bancassurance is a partnership between a bank and insurance company that will allow a bank to sell insurance products of the insurance company through its distribution channels. To offer a wide range of products to its customers, Prime Bank has partnered with leading insurance companies National Life Insurance Company Ltd and Reliance Insurance Ltd, the statement added.