Eastern Bank PLC. on Wednesday (February 7, 2024) obtained bancassurance license from Insurance Development & Regulatory Authority (IDRA) to start Bancassurance business with MetLife & Green Delta Insurance Company Ltd. EBL is the first bank in Bangladesh to get bancassurance license for both life and non-life insurance companies. Bancassurance is a partnership between a bank and an insurance company where a bank sells insurance products through its distribution channels. It can be a new scope for EBL to diversify its income stream by earning commission-based income without any additional risk, capital or liquidity. This approval from Insurance Development & Regulatory Authority (IDRA) will unleash myriad opportunities and take our insurance industry forward.