Eastern Bank Limited (EBL) in collaboration with Visa unveiled exclusive co-brand cards and loan products for Startup Bangladesh Limited – the flagship venture capital fund of ICT Division.
State Minister for ICT Division Zunaid Ahmed Palak launched the card and loan products as the chief guest along with Turkish Ambassador Mostafa Osman Turan at a ceremony held at EBL head office Thursday (27 October).
The co-brand card product basket includes credit, debit and prepaid cards. The co-brand cards which come with a number of exclusive benefits for the customers include zero issuance fee for the 1st year, zero renewal fee upon 18 transactions, and 2 free supplementary cards, among others.
The cards will be usable for both domestic and international transactions, reads a press release.
On the other hand, “Startup Explorer” is a loan product for the members of Startup Bangladesh.
Another product meant for freelancers titled “EBL Freedom Freelancer Visa Debit Card”, was also launched at the programme, which will help them manage their foreign currency earnings more smoothly and efficiently.
“EBL-Startup Bangladesh Visa co-brand Cards, Startup Explorer Loan and EBL Freelancer Visa Debit Card for Start-up and freelancer community, I believe is going to play a vital role in creating an inclusive economy of Bangladesh,” said Zunaid Ahmed Palak, state minister for ICT Division.
Mustafa Osman Turan, ambassador of Turkiye to Bangladesh in his speech said, “Startups are the change-makers and Impact creators in society. Governments and private sector should work hand in hand to provide an enabling environment for a vibrant entrepreneurship ecosystem to flourish. I congratulate the ICT Division and EBL for their partnership to do just that in line with the Digital Bangladesh programme.”
Sami Ahmed, managing director, Startup Bangladesh said that Bangladesh holds the most promising opportunity for venture capital investments for startup industry in the region and that Startup Bangladesh is committed towards fostering entrepreneurship & building a sustainable startup ecosystem to position Bangladesh as the next startup hub of this region.
“This is where we align with Eastern Bank Limited, which also aims to facilitate young startup entrepreneurs by launching these co-Branded banking products for the growth of startups in Bangladesh,” he added.
Ali Reza Iftekhar, managing director and CEO of EBL in his speech said, “A strong believer of innovation and technology, EBL has always prioritised associating with names and organisations which work towards achieving the goal of digital transformation of Bangladesh. Startup Bangladesh’s role in building the digital infrastructure through which technology and innovation can flourish in our country is truly inspirational. Needless to say, EBL is proud to be a part of this journey.”
M Khorshed Anowar, DMD and head of Retail and SME Banking, Ziaul Karim, head of Communications and External Affairs, Nahid Farzana, head of Cards from Eastern Bank Limited were present among others on the occasion.