Thursday, January 11, 2018

Banks barred from insurance. Brokers are likely to benefit most


The Central Bank (BDL) has instructed banks and financial institutions not to engage in insurance or reinsurance activities or market and advertise insurance contracts.

Insurance companies owned by banks can continue their business operations as usual but they cannot market their deals through the banks.

BDL said that the banks and financial institutions are also prohibited from allowing representatives of insurance companies to have a work space on their premises.

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