Midland Bank PLC has formalised a strategic partnership with MetLife Bangladesh to provide comprehensive insurance coverage for its employees and their dependents. The agreement ensures that nearly 600 permanent Midland Bank staff members will be protected against accidents, disabilities, and loss of life, while their dependents will receive in-patient, out-patient, and maternity insurance benefits.
The memorandum of understanding was signed by Md Ahsan-uz Zaman, Managing Director and Chief Executive Officer of Midland Bank, and Ala Ahmad, Chief Executive Officer of MetLife Bangladesh, in the presence of senior executives from both organisations.
The collaboration follows a recent survey conducted by MetLife Bangladesh titled Employee Benefit Trends Study (EBTS), which assessed private-sector employee perspectives across Bangladesh. Key findings from the survey include:
Over 56% of employees reported that financial concerns negatively affect their productivity.
41% linked financial stress to mental health challenges.
78% stated that insurance and wellness benefits, including mental health support, increase employee loyalty.
Commenting on the agreement, Md Ahsan-uz Zaman said, “We strongly believe that providing robust insurance benefits will enhance employees’ sense of belonging and loyalty. This long-awaited group insurance facility guarantees affordable, high-quality medical treatment for our staff and their dependents, offering protection against unforeseen healthcare expenses and greater financial security.”
Ala Ahmad added, “At MetLife, we are dedicated to helping organisations create secure and supportive environments for their employees. Our partnership with Midland Bank reflects a shared commitment to prioritising employee wellbeing through comprehensive insurance solutions.”
Midland Bank has been operating in Bangladesh since 2013, offering a wide array of banking and investment services. MetLife Bangladesh currently provides insurance protection to approximately one million individual customers and over 900 organisations, holding the national record for the highest amount of insurance claims settled.
Overview of Midland Bank and MetLife Bangladesh:
| Institution | Year Established | Services | Coverage | Key Strengths |
|---|---|---|---|---|
| Midland Bank PLC | 2013 | Banking, Investment | ~600 employees | Broad banking and investment services |
| MetLife Bangladesh | – | Life & Health Insurance | ~1 million individuals, 900+ organisations | Record claims settlement, customised solutions, cashless hospitalisation, ambulance services, advanced digital platform |
The signing ceremony was attended by key executives from both institutions. From Midland Bank, attendees included Md Zahid Hossain (Deputy Managing Director), Nazmul Huda Sarkar (Deputy Managing Director & Chief Technology Officer), Javed Tarek Khan (Head of Institutional Banking), Khondkar Towfique Hossain (Head of International Division), Md Rashadul Anwar (Head of PRD), and Md Zubayed Ur Rahman (Head of Human Resources). Representing MetLife Bangladesh were Ala Uddin (Chief Financial Officer), Mohammad Kamruzzaman (Chief Corporate Business Officer), Tauhidul Alam (Chief Human Resource Officer), Monirul Islam (Vice President, Corporate Business), Shehenaz Akter (Deputy Manager, Corporate Business), and Mohammad Tipu Sultan (Manager, Corporate Business).
This partnership not only strengthens employee financial security but also establishes a new benchmark for collaboration between the banking and insurance sectors in Bangladesh, highlighting a growing focus on holistic employee welfare.