The Insurance Regulatory Authority (IRA) has granted Bancassurance certificate to Housing Finance Bank to start selling insurance policies to its customers and the general public.
The IRA Acting Chief Executive Officer, Bernard Obel said during the event at the authority’s headquarters in Kampala on Monday, that Housing Finance has become the tenth out 25 banks to acquire the insurance trading plans.
“Housing Finance Bank is now the tenth bank to get Bancassurance. Applications from other institutions are being reviewed,” Mr. Obel said.
According to Obel, entering the direct insurance trading is going to make the bank increase its client base, network and automatically innovation to meet new needs.