NCC Bank PLC and Meghna Life Insurance Company Limited have signed a groundbreaking strategic memorandum of understanding (MoU) to provide financial security to home loan customers. Under this agreement, regular home loan customers of NCC Bank will now be covered under Meghna Life Insurance’s life insurance services.
The MoU was signed at NCC Bank’s headquarters, with the presence of NCC Bank’s Managing Director M Shamsul Arefin and Meghna Life Insurance’s Vice Chairman Nasir Uddin Ahmed.
Also present at the signing were NCC Bank’s Deputy Managing Director Md Zakir Anam and Meghna Life Insurance’s Additional Managing Director Mohammad Tarek, FCA, who signed the agreement on behalf of their respective institutions.
This agreement aims to provide financial protection for the families of home loan customers in case of unforeseen circumstances, such as death due to accidents. Under the policy, if a home loan borrower passes away, the insurance will cover the outstanding loan amount, ensuring no financial burden on the borrower’s family.
NCC Bank Managing Director Arefin emphasised that this initiative is a significant step in providing financial security for home loan customers and their families.
He also highlighted that the partnership between banking and insurance sectors will help reduce risks and offer customers peace of mind. This customer-friendly, innovative, and welfare-oriented approach is expected to strengthen financial security for home loan customers in Bangladesh.
The event was attended by several senior officials from both institutions, including NCC Bank’s Senior Vice President and Head of SME Sharif Mohammad Mohsin, Transaction Banking and Cash Management Head Shaheen Akhtar Nuha, Retail Banking and Bancassurance Unit Head SM Tanvir Hasan, Cards Head Mohammad Aminul Islam (current charge), Meghna Life Insurance Consultant and Head of Marketing Md Zainal Abedin Bhuiyan, and Vice President of Group Insurance Md Kamruzzaman.
