Aastha Life Insurance Company Limited and Siamanto Bank PLC have officially signed a Credit Shield insurance agreement, marking a significant collaboration aimed at enhancing financial protection for credit card holders. The signing ceremony took place on Sunday, 15 March, at the headquarters of Siamanto Bank PLC, drawing senior executives from both organisations.
The agreement was formally signed by Brigadier General Shah Sagirul Islam, NDC, AFWC, PSC (Retd), Chief Executive Officer of Aastha Life Insurance, and Md. Nurul Azim, Managing Director of Siamanto Bank PLC. The event was attended by top officials from both institutions, reflecting the strategic importance of the partnership.
Under this new arrangement, all credit card holders of Siamanto Bank PLC will automatically be covered under Aastha Life’s group insurance programme, which provides life insurance protection. This ensures that, in the event of unforeseen circumstances, cardholders’ families will receive financial support, offering an additional layer of security and peace of mind.
Speaking at the ceremony, Md. Nurul Azim emphasised the significance of the agreement: “Through this collaboration, we are pleased to provide our credit cardholders with enhanced financial security. We believe that working with Aastha Life will play a crucial role in safeguarding the lives and well-being of our customers.”
Brigadier General Shah Sagirul Islam highlighted the benefits for Aastha Life’s portfolio, stating, “Partnering with Siamanto Bank PLC through this Credit Shield insurance agreement introduces a new dimension to our insurance offerings. It enables us to extend comprehensive financial protection to more customers, ensuring better insurance coverage and peace of mind for all stakeholders.”
Key Details of the Credit Shield Agreement
| Feature | Details |
|---|---|
| Participating Institutions | Aastha Life Insurance Company Limited & Siamanto Bank PLC |
| Agreement Type | Credit Shield Life Insurance |
| Target Beneficiaries | All credit cardholders of Siamanto Bank PLC |
| Coverage | Life insurance under Aastha Life group insurance plan |
| Signing Date | 15 March 2026 |
| Signing Venue | Siamanto Bank PLC headquarters |
| Key Signatories | Brig. Gen. Shah Sagirul Islam (CEO, Aastha Life), Md. Nurul Azim (MD, SBL) |
The collaboration represents a step forward in integrating banking and insurance services, allowing cardholders to enjoy seamless financial protection while enhancing the visibility and reach of Aastha Life’s insurance solutions. Both institutions have expressed optimism that the partnership will strengthen customer trust and reinforce long-term financial security in Bangladesh’s banking and insurance sectors.