Islami Bank, Mastercard launch SME business debit card
The card enables seamless “Tap & Go” merchant payments and convenient e-commerce transactions
Islami Bank Bangladesh PLC, in collaboration with Mastercard, has launched a new SME Business Debit Card designed exclusively for small and medium-sized enterprise (SME) business owners.
This card provides business customers of Islami Bank with enhanced convenience, digital transactions and efficient financial management both at home and abroad, said a press release.
It said the card comes with a host of features designed to support growing businesses. Accepted worldwide, it provides SME owners with access to Mastercard's global payment network along with exclusive domestic and cross border discount benefits from both Islami Bank and 9500+ domestic merchant network of Mastercard.
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In addition, the card enables seamless "Tap & Go" merchant payments and convenient e-commerce transactions, making it a value-added financial tool for SME business owners seeking efficiency and cost savings.
Cardholders can also enjoy higher ATM withdrawal limits for business expenses across 3100+ ATMs in all 64 districts of Bangladesh, as well as cash withdrawals from branches, sub-branches, and Islami Bank agent POS.
At the launching event, Md Omar Faruk Khan, managing director of Islami Bank, said, "The SME sector plays a pivotal role in Bangladesh's economic growth. With the launch of the SME Debit Card, we are empowering business owners with the tools to manage their finances more effectively, whether locally or globally. This partnership with Mastercard underscores our commitment to innovation, financial inclusion, and supporting entrepreneurs across the country."
Syed Mohammad Kamal, country manager, Bangladesh, Mastercard, said, "Mastercard is glad to collaborate with Islami Bank Bangladesh to power the SME Debit Card. By providing small business owners with a globally accepted, secure, and efficient payment solution, we are enabling them to broaden their business horizons, strengthen their operations, and play a vital role in driving Bangladesh's economic growth and resilience."
Anwar Hossain Chowdhury, managing director of SME Foundation was present as the chief guest. Md Omar Faruk Khan, managing director of Islami Bank presided over the programme while Nawshad Mustafa, director (SMESPD), Bangladesh Bank, and Md Sharafat Ullah Khan, director, Payment Systems Department, Bangladesh Bank, were present as special guests.
