Prime Bank launches country’s first SME debit card
Prime Bank PLC has launched the country's first-ever SME Debit Card with International Remittance Facility, enabling small and medium enterprises (SMEs) to make seamless international online payments for business purposes.
The new card allows proprietorship businesses to make international payments online, while partnership or limited companies can use SME Prepaid Cards for the same purpose. The card can also be used locally for POS, ATM, and online transactions.
The launch follows a recent Bangladesh Bank circular permitting SMEs to make online international business payments. Under this initiative, verified SME clients—registered with the SME Foundation—can make online payments for bona fide business expenses. The card can be reloaded up to USD 600 per refill, not exceeding USD 3,000 per calendar year.
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The launch ceremony, held at Prime Tower in Nikunja, was attended by Nawshad Mustafa, director of SME and SPD at Bangladesh Bank; Md Nazrul Islam, additional director of SME and SPD; Md Ayub Ali, joint director of Bangladesh Bank; and Sohail Alim, director of Mastercard Bangladesh. The event was presided over by M Nazeem A Choudhury, deputy managing director of Prime Bank PLC.
Speaking at the event, Nazeem A Choudhury said, "Prime Bank has always been at the forefront of empowering SMEs with innovative financial solutions. The SME Debit Card with international remittance capability marks another milestone in enabling Bangladeshi entrepreneurs to compete confidently in the global digital marketplace."
Other attendees included Mamur Ahmed, Head of Distributions; Mohammad Aminur Rahman, Head of SME; and Joarder Tanvir Faisal, Head of Cards at Prime Bank.
