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Mercantile Bank unveils Global Debit Card marking 24th anniv

FE REPORT | June 05, 2023 00:00:00

Mercantile Bank Limited organised a press conference on Sunday on the occasion of its 24th anniversary, and unveiled a new card, the Global Debit Card, for its customers. This card can be used both domestically and internationally to make purchases and withdraw cash.

The bank's Chairman Morshed Alam MP joined the event at the bank's headquarters in the city as the chief guest.

He highlighted the numerous milestones achieved by the bank over the past two decades in order to ensure customer satisfaction and emphasised the importance of developing a future action plan to further enhance client satisfaction.

The chairman said that the bank has solidified its pioneering position in the industry due to the concerted efforts of its board of directors, management, and employees. Despite the challenges posed by the post-pandemic effects and the war in Ukraine, they have worked diligently and efficiently.

"The Mercantile Bank will reinforce its strength and intelligence to build of and enrich the banking ecosystem through technological upgradation for ensuring SMART banking meant to construct SMART Bangladesh," Mr Alam said.

During the press conference, Vice Chairman ASM Feroz Alam, Chairman of the Risk Management Committee M Amanullah, Chairman of Mercantile Bank Securities MA Khan Belal and directors Alhaj Akram Hossain (Humayun), Alhaj Mosharref and Mohammed Abdul Awal were also present.

Mercantile Bank Managing Director and CEO Md Quamrul Islam Chowdhury delivered a welcome address at the function. He said that the recovery of classified loans would be a priority for the bank in this fiscal year.

"Women entrepreneurs, agriculture, and SME sectors will be given priority in terms of new loans," he added.

He also mentioned plans to open new agent banking outlets and sub-branches across the country to ensure access to banking services for unbanked individuals.

Besides, he highlighted the bank's intention to strengthen its digital services through innovative products in the upcoming days.

Account holders of the bank can utilise funds deposited in both current and savings accounts for shopping, cash withdrawal and online payments in any currency, both domestically and internationally.

The CEO said that the newly launched cards are widely accepted at Visa ATMs and point-of-sale (POS) terminals worldwide. He underscored the bank's robust liquidity position.

The Global Debit Card is compatible with NFC (near-field communication) technology and enables clients to contactless transactions of up to Tk 5000 or the equivalent.

Foreign currency transactions with the Global Debit Card are subject to endorsement on the cardholder's passport under the regular travel quota.

During the press conference, Additional Managing Director Mati Ul Hasan, CFO Taposh Chandra Paul and other senior officials of the bank were present.

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