Dhaka: Guardian Life Insurance Limited and the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) have entered into a significant partnership to boost insurance coverage and healthcare services for workers in Bangladesh’s knitwear sector. This collaboration was formalized with the signing of a memorandum of understanding (MoU) aimed at providing affordable insurance options to thousands of factory workers and their families.
According to United News of Bangladesh, the agreement allows employees of BKMEA member factories to access Guardian’s comprehensive insurance services by paying an annual premium of Tk 250. This package not only includes life insurance coverage but also offers 24/7 telemedicine services and discounts at over 500 hospitals, extending benefits to workers, employees, and their family members. Guardian Life Chief Executive Officer Sheikh Rakibul Karim and BKMEA President Mohammad Hatem signed the MoU at a ceremony held in Dhaka.
As part of the new initiative, BKMEA member f
actories will facilitate the enrolment of their workforce into the insurance programme offered by Guardian. With over 2,500 member factories, the BKMEA partnership opens up the potential to provide insurance services to a large segment of the country’s knitwear workforce.
The signing ceremony witnessed the presence of Labour and Employment and Expatriates’ Welfare and Overseas Employment Minister Ariful Haque Choudhury, who attended as the chief guest, alongside other notable figures such as Labour and Employment Secretary Md Abdur Rahman Tarafder and BILS Executive Director Syed Sultan Uddin Ahmmed.
Minister Ariful Haque Choudhury emphasized the importance of this collaboration between the government and private sector, highlighting its potential to enhance healthcare support for workers nationwide. Meanwhile, Labour Secretary Md Abdur Rahman Tarafder lauded the initiative as a vital step towards improving worker welfare, essential for sustaining a competitive garment industry.
Syed Sultan Uddin Ahmmed of
BILS underscored the potential of insurance schemes to include informal workers, suggesting that such models could eventually be linked to government incentives for factories.
Tapan Chowdhury, Co-Founder of Guardian Life, expressed confidence in the company’s ability to deliver meaningful support, while Syed Nasim Manzur noted the agreement’s significance in improving workplace conditions and fostering economic progress in Bangladesh.
BKMEA President Mohammad Hatem welcomed the partnership, expressing the association’s commitment to initiatives that enhance workers’ wellbeing. Guardian Life CEO Sheikh Rakibul Karim echoed these sentiments, stating the collaboration aims to provide greater financial security for BKMEA members and their workforce, underscoring insurance as a vital support promise during challenging times.
This initiative is poised to extend substantial insurance services to the knitwear sector’s workforce, aligning with Guardian Life’s mission to make insurance more accessible across Bangla
desh.