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MasterCard Opens Office in Dhaka

LLLLBangladesh is an important market for electronic payments industry and being relatively untapped, there are ample scopes to offer innovative payment services spearheaded, in particular, by mobile phones.
Ari Sarker, Division President, South Asia, MasterCard said, while making formal presence of MasterCard in Bangladesh.

MasterCard opened its local representative office in Dhaka as part of its geographical expansion in South Asia.

This would be the second office of the electronic payment leader in South Asia after India.

For opening an office in Dhaka, MasterCard considers the growth potentials of the market driven by the growing middle-class and E-commerce, its officials said at a gala opening ceremony at a local hotel on Wednesday (13 November 2013) evening.

Bangladesh Bank Governor Dr Atiur Rahman was the chief guest of the event to formally announce the presence of MasterCard here.

“Our geographical presence and market position have witnessed sustained growth and today, with the launch of our office in Bangladesh, we have achieved another significant milestone,??? Ari Sarker said.

Apart from bringing in its global expertise in technology and payments processing to its local partners, one of MasterCard’s key priorities in Bangladesh would be financial inclusion i.e. the delivery of financial services at affordable costs to the unbanked segment of the society, officials said.

While 55 percent of adult population in Bangladesh has some access to financial services, largely because of micro-finance solutions, only 22 percent is fully banked, a private estimate suggest.

By working with key local financial institutions and NGOs, MasterCard looks forward to bring in safe and convenient payment services to meet the needs of the financially underserved in Bangladesh, officials added.

Speaking on the occasion, Dr Atiur Rahman said, “We are happy to see that they now have a team operating on the ground. We look forward to having MasterCard work even more closely with the local partners to implement world-class payment solutions as well as help develop the local industry.???

Chairman of the Association of Bankers’ Bangladesh (ABB) Nurul Amin addressed the function as the special guest.

Chief HR officer of the company Ron Garrow, Country Manager Syed Mohammad Kamal , also spoke on the occasion.

MasterCard, a technology company in the global payments industry that operated in over 210 countries and territories, started its services in the country back in 1997.


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