National Bank of Malawi (NBM) has just put in place an insurance premium financing mechanism whereby the bank will pay annual insurance premiums on behalf of its clients, freeing their cash flow in the process. Confirmation to Blantyre by Oswin Kasunda, Head of Retail Banking at NBM, who clarified that the Insurance Premium Finance product allows the bank to pay insurance premiums to the insurance company on behalf of the client and grants a loan to customer, repaid in monthly installments.
