Islami Bank, Mastercard launch business debit card for SMEs

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) owners.

This card provides business customers of Islami Bank Bangladesh PLC with enhanced convenience, digital transactions, and efficient financial management both at home and abroad.

Anwar Hossain Chowdhury, managing director of SME Foundation, inaugurated the card as the chief guest in the capital today, according to a press release.

"This partnership with Mastercard underscores our commitment to innovation, financial inclusion, and supporting entrepreneurs across the country," Md Omar Faruk Khan, managing director of Islami Bank Bangladesh PLC, said while presiding over the programme.

Syed Mohammad Kamal, country manager for Bangladesh at Mastercard, said, "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."

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 Mastercard's network of more than 9,500 domestic merchants.

In addition, the card enables seamless Tap & Go merchant payments and convenient e-commerce transactions, making it a value-added financial tool for SME owners seeking efficiency and cost savings.

Cardholders can also enjoy higher ATM withdrawal limits for business expenses across more than 3,100 ATMs in all 64 districts of Bangladesh, as well as cash withdrawals from branches, sub-branches, and Islami Bank agent POS.

Nawshad Mustafa, director of the SME Special Programs Department at Bangladesh Bank, and Md Sharafat Ullah Khan, director of the Payment Systems Department, along with other senior officials from both the bank and the global digital payment service provider, were also present.