Secure, seamless and smart spending: United Commercial Bank PLC

Mohammad Mamdudur Rashid
Managing Director & CEO
United Commercial Bank PLC

Ramadan spending is becoming planned, digital, and value-driven. At UCB, we ensure every single transaction is seamless and secure within a complete and integrated digital value ecosystem for our valued customers.

United Commercial Bank PLC highlights how its digital solutions are transforming Ramadan retail.  In this interview with the MD and CEO, Mohammad Mamdudur Rashid  we understand the bank’s efforts to foster value-driven digital spending through strategic merchant partnerships, secure remittances, and robust cashless payment systems that align with the nation’s digital evolution during this festive season to serve our customer base.

The Daily Star (TDS): With Ramadan approaching, how has your bank observed a shift in consumer spending behavior in recent years?

Mohammad Mamdudur Rashid (MMR): We have noticed a clear transformation in spending behavior. Previously, shopping concentrated in the final days before Eid. Now, UCB customers plan earlier and budget consciously. Spending in lifestyle, grocery, and dining is more structured as customers prioritize value, cashback, and installments over impulse-based festive purchases.

TDS: What trends define the transition from cash to digital channels for Iftar, Sehri, and Eid shopping?

MMR: This shift is highly visible. Whether paying for Iftar at a restaurant or ordering Sehri via apps, customers prefer cards and MFS platforms. Factors driving this include convenience, security, and rewards. While cash still plays a role, digital adoption is accelerating, particularly among young consumers seeking transparency.

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TDS: What specific campaigns or offers has your bank structured this season? How do these promote “smart spending”?

MMR: We offer 20% cashback at fashion brands, supermarket discounts, and dining deals. These initiatives promote smart spending by encouraging planned purchases instead of last-minute rushes and providing 0% EMI facilities. This ensures customers celebrate fully while maintaining financial discipline and avoiding short-term borrowing or unnecessary festive debt.

TDS: How are you ensuring seamless fund flows during the high-traffic Eid rush?

MMR: We built strong interoperability between our banking system and MFS partners. UCB customers can seamlessly transfer funds between accounts and wallets in real-time. Our integrated platforms and co-branded solutions with Upay ensure uninterrupted service, facilitating financial inclusion for customers needing quick fund access during busy festive periods.

TDS: Are there features facilitating Zakat payments and Eidi transfers?

MMR: We integrated our Core Banking Solution with digital channels and wallet systems to make transfers instant. UCB customers can easily send Zakat or Eidi directly from bank accounts or through wallet integrations. Transactions are processed in real-time, ensuring recipients receive funds immediately during this spiritually and socially significant period.

TDS: How are you supporting small merchants during the Eid rush?

MMR: Handling cash is risky for merchants. We are expanding QR-based solutions and POS facilities allowing digital payments directly into accounts. This reduces cash-handling risks and improves liquidity through real-time settlements. It helps merchants manage working capital better while enhancing customer convenience during the high-volume Eid shopping rush.

TDS: Ramadan is peak remittance season. How are you facilitating real-time distribution?

MMR: Remittance inflows rise sharply during Ramadan. UCB ensures fast processing and real-time crediting into accounts. Through MFS partnerships, recipients in rural areas instantly receive funds in mobile wallets. This immediate access allows families to prepare for Eid without delay, covering everything from household needs to charitable giving.

TDS: How do your savings products help prepare financially?

MMR: Festive seasons involve high expenses. UCB offers DPS to encourage disciplined monthly savings. Customers build a financial cushion throughout the year. When Ramadan arrives, they utilize accumulated savings without stress, reducing reliance on debt and promoting long-term financial resilience and stability for families during these festive celebrations.