‘Premium Banking’ is more than service; it’s a distinct lifestyle: BRAC Bank DMD Mahiul Islam

BRAC Bank launched its Premium Banking service in 2009, offering high-value clients a dedicated range of services, benefits, and a symbol of prestige. Over the course of more than a decade, the bank has introduced specialised cards, debit facilities, wealth management, family banking, senior advisory services, and exclusive lifestyle privileges for its premium customers.

In a recent interview with The Business Standard's Sakhawat Prince, Deputy Managing Director and Head of Retail Banking at BRAC Bank, Md Mahiul Islam, discussed the philosophy of Premium Banking, its services, customer feedback, and future plans for the sector

What privileges does BRAC Bank offer to Premium Banking clients in credit, debit cards, and other offerings?

Premium Banking is a symbol of aristocracy and prestige, offering a specially curated banking proposition that caters to the class, comfort, and needs of high-value customers. At BRAC Bank, we recognise that Premium Banking clients deserve the very best. Our Premium Banking proposition is designed to provide exclusive financial solutions that combine convenience, rewards, and personalised service for high-net-worth clients.

Premium Banking adds value by prudently managing financial assets and guiding clients in investments and savings. The bank's offerings across shopping, dining, entertainment, and healthcare are carefully crafted to provide a premium lifestyle, helping clients achieve both personal and professional goals.

A host of benefits and privileges are exclusive to Premium Banking clients. For credit cards, clients receive pre-approved access to top-tier cards, including VISA Infinite, VISA Signature, Mastercard TARA World, and Diners Club International Emerald. These offer 100% annual fee waivers, airport lounge access in Dhaka and international airports, concierge services, insurance coverage, and P@y Flex options at over 1,700 merchants.

Premium Banking debit cards, including VISA Signature and Platinum, feature multicurrency functionality and double reward points on domestic and international spending. They also allow higher daily cash withdrawals of up to Tk8 lakh. RFCD account holders receive international debit cards to facilitate overseas transactions beyond travel quotas. Both credit and debit cards deliver a customer-centric experience, offering a comprehensive range of benefits tailored to clients' lifestyle needs.

What are the most exclusive perks BRAC Bank provides to its Premium Banking clients?

Since the launch of Premium Banking in 2009, BRAC Bank has been committed to delivering superior service and tailored banking solutions for high-net-worth clients. Offerings include dedicated relationship managers providing personalised financial advisory across segments such as wealth management and bancassurance.

Premium Banking clients enjoy priority service queues in call centres, doorstep banking, and access to exclusive Premium Banking centres at key locations, creating a fully tailored experience. Fully digital onboarding channels ensure a seamless experience, including a comprehensive suite of services for NRBs, such as non-face-to-face account opening from abroad, access to the Offshore Banking Unit (OBU), faster remittance transfers via the bKash app, and local transactions through the digital banking app, Astha.

Preferential interest rates, fees, and charges further enhance the benefits for this segment. Ancillary services include locker facilities, One Stop Service, Doorstep Service, and more. Personalised services and strong customer engagement reflect BRAC Bank's commitment to valuing and rewarding its premium clients.

What was the thought behind introducing Family Banking under the Premium Banking proposition, and how has the market responded?

Family Banking, launched in 2024, was a natural extension of BRAC Bank's customer-centric philosophy. The proposition was designed to bring together services that support every stage of a family's financial journey, creating convenience and value across generations.

It bundles benefits such as TARA Women Banking, Student File services for higher education through Agami, health insurance with maternity coverage, preferential rates, fee waivers, and dedicated relationship managers, all tailored to the diverse needs of family members. The idea was to not only provide banking service but to foster long-term trust by addressing the collective financial aspirations of households.

The response has been overwhelmingly positive. Customers have come to appreciate the sense of being valued as part of a family with shared goals. This has translated into stronger engagement, higher adoption of bundled products, and a clear positioning of BRAC Bank as a pioneer in holistic, family-focused financial services.

Premium Banking Senior and Premium Banking Plus were recent launches. What has been client feedback?

Both propositions were designed with empathy, insight, and respect for the distinct needs of the senior segments.

Premium Banking Plus was tailored for affluent customers seeking more exclusivity and convenience. It provides higher-value offerings such as the highest interest-bearing savings accounts, pre-approved VISA Infinite cards, wealth advisory, and lifestyle privileges, all curated to match their financial aspirations and lifestyle choices. It recognises that customers expect not only returns but experiences that align with their ambitions.

Premium Banking Senior, on the other hand, was created with deep respect for our senior clients. This proposition prioritises peace of mind, trust, and simplified banking during retirement years. It includes the Golden Benefit Savings account with complimentary life insurance, zero penalty on early encashment of fixed deposits in emergencies, wellness tie-ups, and dedicated relationship managers who understand their stage of life. Beyond features, it represents our effort to stand beside senior customers with dignity, care, and ease.

The feedback from both groups has been extremely encouraging. Clients appreciate the thoughtfulness behind the segmentation, the personalisation of benefits, and the genuine effort to design solutions that respect their unique journeys.

What is the state of Premium Banking services outside Dhaka?

Premium Banking has steadily expanded beyond the capital to ensure nationwide accessibility. Currently, BRAC Bank operates 25 Premium Banking centres, with 20 in Dhaka, three in Chattogram, one in Sylhet, and one in Rajshahi.

The ambition is to grow this footprint further by 2026, bringing personalised premium services closer to clients across Bangladesh. The goal is simple: whether in a metropolitan hub or a regional city, every premium client should feel the same level of exclusivity and service excellence that defines BRAC Bank.

What are the future plans for Premium Banking?

The future of BRAC Bank Premium Banking is about transitioning from products to partnerships, deepening client relationships, and offering experiences that extend far beyond traditional banking.

We are investing in digital transformation to provide seamless, secure, and intuitive services through enhanced mobile and internet platforms. We also plan to expand our suite of wealth management and investment advisory solutions, partnering with our capital market and insurance arms to support clients in growing and protecting their assets.

At the same time, lifestyle integration will be a strong focus, featuring curated privileges, wellness benefits, travel support, and exclusive events that reflect the aspirations of our premium clients. Expansion of Premium Banking lounges and dedicated relationship management teams will reinforce high-touch service nationwide.

Our goal is to be more than a bank. We aim to be a trusted partner who stands alongside our clients in their pursuit of financial well-being, personal ambitions, and legacy-building journeys. Premium Banking at BRAC Bank will continue to evolve into a comprehensive ecosystem that delivers genuine value, trust, and lasting impact.