Midland Bank PLC. has signed an agreement with MetLife Bangladesh to provide insurance coverage for its employees and their dependents. This partnership will ensure that nearly 600 permanent employees of Midland Bank are protected against accidents, disabilities, and loss of life. Additionally, their dependents will receive in-patient, outpatient, and maternity insurance coverage.
Md. Ahsan-uz Zaman, Managing Director & CEO of Midland Bank, and Ala Ahmad, Chief Executive Officer of MetLife Bangladesh, signed the agreement on behalf of their respective organizations.
Insurance coverage for employees plays a critical role in fostering a sense of security and loyalty among the workforce.
Recently, MetLife Bangladesh conducted a survey on private-sector employees in Bangladesh titled “Employee Benefit Trends Study (EBTS)”. According to the survey, over 56% of employees admit that financial worries reduce their productivity, while 41% link financial stress to mental health issues. Furthermore, 78% of employees say insurance and wellness benefits, such as mental health support, make them more loyal.
Midland Bank selected MetLife as its insurance provider due to MetLife’s consistent track record of claims settlement, customized solutions, advanced dashboard, cashless hospitalization and ambulance service, and financial strength, which enables it to pay claims faster and without hassle.
Mr. Md. Ahsan-uz Zaman, Managing Director & CEO of Midland Bank PLC, said:
“We strongly believe that the insurance benefit for employees will enhance their sense of belonging and loyalty. The long-anticipated group insurance facility will ensure affordable, quality treatment for our employees and their dependents, providing protection against unexpected medical costs and offering financial security and peace of mind.”
“At MetLife, we are committed to helping organizations create a secure and supportive environment for their employees. This partnership with Midland Bank demonstrates our shared vision of prioritizing employee well-being through comprehensive insurance solutions,” commented Ala Ahmad, Chief Executive Officer of MetLife Bangladesh.
Midland Bank PLC. has been operating in Bangladesh since 2013 and offers a full range of banking services and investment opportunities to it customers.
In Bangladesh, MetLife provides insurance protection to around 1 million individual customers and over 900 organizations. MetLife Bangladesh holds the record for settling the highest amount of claims in the country.
From Midland Bank, Md. Zahid Hossain, Deputy Managing Director; Nazmul Huda Sarkar, DMD & CTO; Javed Tarek Khan, Head of Institutional Banking Division; Khondkar Towfique Hossain, Head of International Division; Md. Rashadul Anwar, Head of PRD and Md. Zubayed Ur Rahman, Head of Human Resources Division, were present.
From MetLife Bangladesh, Ala Uddin, Chief Financial Officer; Mohammad Kamruzzaman, Chief Corporate Business Officer; Tauhidul Alam, Chief Human Resource Officer; Monirul Islam, VP, Corporate Business; Shehenaz Akter, Deputy Manager, Corporate Business; and Mohammad Tipu Sultan, Manager, Corporate Business, attended the agreement signing ceremony.
