Islami Bank, Mastercard launch SME business debit card

Islami Bank Bangladesh PLC (IBBPLC), in collaboration with Mastercard, has introduced a new SME Business Debit Card designed exclusively for small and medium-sized enterprises (SMEs).

The card offers enhanced convenience, digital transactions, and efficient financial management both at home and abroad.

The launch ceremony was attended by Anwar Hossain Chowdhury, Managing Director of SME Foundation, as the chief guest. Md Omar Faruk Khan, Managing Director of Islami Bank, presided over the programme. Nawshad Mustafa, Director (SMESPD) of Bangladesh Bank, and Md Sharafat Ullah Khan, Director of the Payment Systems Department of Bangladesh Bank, were present as special guests.

The IBBPLC SME Debit Card provides SME owners with access to Mastercard's global payment network, along with exclusive domestic and cross-border discount benefits from both IBBPLC and Mastercard's network of more than 9,500 domestic merchants. It also enables seamless 'Tap & Go' merchant payments, convenient e-commerce transactions, and higher ATM withdrawal limits for business expenses across more than 3,100 ATMs in all 64 districts. Cardholders can also make cash withdrawals from IBBPLC branches, sub-branches, and agent points of sale.

Md Omar Faruk Khan, Managing Director of Islami Bank Bangladesh PLC, 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 of Mastercard Bangladesh, 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."

This partnership aims to expand financial access and support inclusive growth for entrepreneurs across Bangladesh.