International Health Insurance News: Banks rush to sign up expats
03/09/10 17:21
Bangladeshi banks are increasingly competing to provide the most suitable services for their expatriate medical insurance customers.
At a time when expatriate Bangladeshis are sending home remittances totalling US$10.97 billion last year, according to data from Bangladesh Bank, financial institutions are attempting to coax non-residents with a range of new investments and other banking services.
According to the Daily Star, products unveiled specifically for expatriate health insurance customers include loans for small and medium business enterprises, investment in tax-free US bonds, home loans and investments in stocks.
Several institutions, including BRAC Bank, The City Bank, Mercantile Bank and the Mutual Trust Bank have opened special departments solely to deal with the financial interests of their expatriate clients.
Anis Khan, managing director of Mutual Trust, told the newspaper: "We want to provide the expatriates with financial products. We will advise them and take the services to their doorsteps."
Bangladesh expatriates have also just won the right to vote in their home country's elections from overseas.
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