Speakers at a ceremony on Monday said the dual currency cards allow cardholders to avail more secure online payment facilities through two-factor authentication
This also help further boosting cross-border transactions by enabling greater purchase flexibility for cardholders that shop, dine and transact while overseas, eliminating the need to carry foreign currency while traveling abroad, they opined. The program was organised by the Islami Bank Bangladesh Limited to announced the launch of Shari’ah based dual currency Mastercard Titanium and Gold debit, World and Gold credit and prepaid cards in Bangladesh. The dual currency cards feature contactless capabilities which will allow cardholders to more conveniently transact domestically and internationally.
Planning Minister MA Mannan MP joined as the chief guest at the virtual inauguration ceremony. Deputy Governor, Bangladesh Bank, Ahmed Jamal and Professor Dr. Mohammad Gias Uddin Talukder, the Chairman of Central Shari'ah Board for Islamic Banks of Bangladesh, were present as special guests.
Mohammed Monirul Moula, Managing Director & CEO of Islami Bank Bangladesh Limited presided the event. Vikas Varma, Chief Operating Officer, South Asia Mastercard; Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard; Muhammad Qaisar Ali and Md. Omar Faruk Khan, Add MDs; Taher Ahmed Chowdhury, DMD and A F M Kamaluddin, SEVP of Islami Bank Bangladesh Limited were also present. The contactless cards are embedded with a secure EMV-enabled chip that allows for a safe, touchless transaction at any enabled payment terminal or POS (point-of-sale) machine.
Addressing the event, Mohammed Monirul Moula, Managing Director & CEO of Islami Bank Bangladesh Limited said, "Islami Bank Bangladesh Limited - the largest private sector bank in Bangladesh takes pride in collaborating with Mastercard to bring the EMV-enabled Mastercard Titanium and Gold debit cards, World and Gold credit cards & prepaid cards to its valued customers."
Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard said, “The collaboration with Islami Bank Bangladesh is an exciting milestone for Mastercard in bringing best-in-class products that provide flexibility, convenience and security to cardholders. The launch of the dual-currency Mastercard Titanium and Gold debit, World and Gold credit and prepaid cards is in line with Mastercard’s efforts to ease cross-border connectivity and provide safer, faster and simpler cashless payment options for consumers in Bangladesh.”
