In a significant move to enhance financial service offerings, Eastern Bank Limited (EBL) has joined hands with Shanta Life Insurance. The two entities formalized their collaboration through a Memorandum of Understanding (MoU) on August 26, 2025, at EBL’s head office in Dhaka.
The agreement was signed by M. Khorshed Anowar, Deputy Managing Director (DMD), Head of Retail and SME Banking, and Chief Bancassurance Officer of EBL, and M. Khurshed Kaisar, DMD and Chief Distribution Officer of Shanta Life Insurance. The event was graced by senior executives from both organizations. Among them were Sarmin Atik, EBL’s Head of Liability and Wealth Management; Md. Raquib, Head of Bancassurance; Nafis Akhter Ahmed, CEO of Shanta Life Insurance; and Mashfiqur Rahman, Head of Bancassurance at Shanta Life Insurance.
This partnership aims to bring about a seamless integration of banking and insurance services. EBL, with its extensive network across the country, intends to provide its customers with easy access to a diverse range of life insurance products. By doing so, the bank hopes to enhance its overall banking offerings, adding another layer of value for its clientele.
For Shanta Life Insurance, the tie – up with EBL is a strategic step to expand its market reach. Leveraging EBL’s wide – spread network, Shanta Life Insurance will be able to strengthen its distribution capabilities. This will enable the insurance company to introduce its innovative insurance solutions to a larger customer base, thereby promoting financial inclusion and providing more Bangladeshis with access to quality life insurance products.
Shanta Life Insurance debuted in Bangladesh’s insurance sector after receiving its license from the Insurance Development and Regulatory Authority (IDRA) on November 7, 2023. Since then, it has been aiming to redefine the insurance sector through innovation. EBL, on the other hand, has a long – standing reputation as a leading private commercial bank in Bangladesh, having started its journey in 1992.
With this new partnership, both EBL and Shanta Life Insurance are set to play a more significant role in the financial landscape of Bangladesh, offering customers more choices and better – integrated financial solutions.
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