BRAC Bank, Green Delta launch insurance scheme for cattle farmers

BRAC Bank Limited and Green Delta Insurance Company Limited have jointly launched Bangladesh’s unique livestock insurance coverage facility for the cattle farmers, says a press statement on Wednesday.

The insurance scheme, according to the press communique, will immensely benefit the cattle farmers as it aims to mitigate the risk of livestock losses caused from accidental death, diseases, partial disability or even death during calving.

The new facility is a part of the two organisations’ continued commitment to bring in innovative products for their valued customers. Green Delta introduces a unique system of NFC enabled collar tag for cattle identification and monitoring that will facilitate smooth claim settlement.

Md Ashraf Ali Khan Khasru, MP, state minister for fisheries and livestock, formally inaugurated Cattle Shield Programme at a ceremony at Pan Pacific Sonargaon Hotel.

Also, Selim RF Hussain, managing director and CEO, BRAC Bank, and Farzanah Chowdhury, managing director and CEO, Green Delta Insurance Company Limited, Shykh Seraj, director and head of news, Channel i, Syed Abdul Momen, head of SME Banking, BRAC Bank, and Syed Moinuddin Ahmed, additional managing director and company secretary, Green Delta Insurance Company were also present.

Selim RF Hussain said, “Since its inception, BRAC Bank has a particular focus on SME financing with a broader vision of financial inclusion and pro-poor growth. This innovative facility with help of technology bears testimony to the bank’s commitment to inclusive banking especially for small and marginal farmers.”

Farzanah Chowdhury said, “Green Delta Insurance Company is excited to roll out the country’s first ever insurance coverage facility for the cattle farmers. We have developed an easy, simple and faster claim settlement process that will help the cattle owners.”

The initiative is supported by BFP-B (Business Finance for the Poor in Bangladesh) Challenge Fund, a project of DFID, and managed by NATHAN Associates, London.