Sunday, 3rd May 2026
Khaborwala Online Desk
Published: 3rd May 2026, 6:35 AM
Eastern Bank PLC (EBL), in collaboration with Akij Takaful Life Insurance PLC, has launched Shariah-compliant Takaful insurance products through a bancassurance arrangement. The official launch was held on Thursday, 30 April, at the EBL Head Office in Dhaka, according to a press release.
Through this arrangement, EBL customers will be able to access Islamic Takaful insurance solutions directly from the bank’s branch network. The initiative integrates banking and insurance services on a single platform, allowing customers to obtain financial protection products alongside standard banking facilities.
The partnership introduces Takaful insurance based on Islamic principles of mutual assistance and shared responsibility. Contributions made by participants are pooled into a collective fund, which is then used to provide financial support to members in accordance with Shariah guidelines.
The bancassurance model is designed to improve access to insurance products by using banking channels as a distribution network. It is also intended to simplify customer access to insurance services, reduce service fragmentation, and expand the reach of Shariah-compliant financial products in Bangladesh.
At the launch ceremony, M. Khorshed Anowar, Deputy Managing Director and Head of Retail and SME Banking at EBL, said:
“This partnership reflects our commitment to delivering inclusive and value-driven financial solutions. By incorporating Shariah-compliant Takaful products into our banking ecosystem, we are expanding customer choice while advancing ethical finance and financial inclusion in Bangladesh.”
Senior officials from both EBL and Akij Takaful Life Insurance PLC attended the event, underscoring institutional cooperation between the banking and insurance sectors.
| Institution | Name | Designation |
|---|---|---|
| EBL | M. Khorshed Anowar | Deputy Managing Director, Head of Retail and SME Banking |
| EBL | A. K. M. Mizanur Rahman | Deputy Chief, Islamic Banking |
| EBL | Sarmin Atik | Head of Liability and Wealth Management |
| Akij Takaful Life Insurance PLC | Mohammad Shazzadul Karim | Managing Director and CEO |
| Akij Takaful Life Insurance PLC | Asifur Rahman | Vice Chairman and Independent Director |
| Akij Takaful Life Insurance PLC | Mir Mahfuzur Rahman | Director |
| Akij Takaful Life Insurance PLC | Muhammad Fuad Hussain | Director |
| Akij Takaful Life Insurance PLC | Mohammad Masuduzzaman Khan | Additional Managing Director, Chief Corporate Business Officer |
| Akij Takaful Life Insurance PLC | Md. Kamruzzaman | Vice President, Head of Sales (Bancassurance) |
The introduction of bancassurance-based Takaful products reflects a wider trend in Bangladesh’s financial sector towards integrated service delivery. By combining banking and insurance distribution channels, institutions aim to improve efficiency and broaden customer access to financial protection services.
The EBL–Akij collaboration is expected to further support the expansion of Shariah-compliant financial offerings and strengthen the presence of Islamic insurance products within the country’s growing financial services ecosystem.
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