Launch of EBL- Startup Bangladesh co-branded Visa cards

Eastern Bank Limited (EBL) in conjunction with Visa has unveiled co-branded cards and loan products for Startup Bangladesh Limited, the ICT division’s flagship venture capital fund.

Minister of State for ICT Division Zunaid Ahmed Palak launched the card and loan products as a chief guest with Turkish Ambassador Mostafa Osman Turan during a ceremony held at the headquarters of EBL in Gulshan on October 27, reads a press release.

The co-branded card product basket includes credit, debit and prepaid cards. Co-branded credit cards that offer a number of exclusive customer benefits include zero issuance fees for the 1st year, zero renewal fees on 18 transactions, and 2 free additional cards, among others. The cards will be usable for domestic and international transactions.

On the other hand, “Startup Explorer” is a loan product for startups in Bangladesh.

Another product for freelancers titled “EBL Freedom Freelancer Visa Debit Card” has also been launched under the program, which will help them manage their foreign exchange earnings more smoothly and efficiently.

“Bangladesh has become a fertile ground for startups and innovation, which is transforming the startup ecosystem. According to a recent study, more than 1,200 startups are currently actively operating and every year another 200 join the industry. This ever-growing number of “Startups serve as a vector for the employment of our young people. Every year, thousands of young people from middle and upper income families start their careers in these startups. After gaining practical experience, they flourish as entrepreneurs,” said Zunaid Ahmed Palak, Minister of State for ICT Division.

Mustafa Osman Turan, Turkish Ambassador to Bangladesh, said: “Startups are the agents of change and creators of impact in society. Governments and the private sector must work hand in hand to create an enabling environment for a vibrant entrepreneurial ecosystem to flourish. I commend the ICT division and EBL for their partnership in the Digital Bangladesh program.“

Ali Reza Iftekhar, Managing Director and CEO of EBL, said, “A strong believer in innovation and technology, EBL has always prioritized association with names and organizations that are working to achieve the goal. of Bangladesh’s digital transformation. Startup Bangladesh is the first and only government-sponsored venture capital fund. Startup Bangladesh’s role in building the digital infrastructure through which technology and innovation can flourish in our country is truly inspiring. Needless to say, EBL is proud to be part of this journey.

Mr. Khorshed Anowar, DMD and Head of Retail and SME Banking, Ziaul Karim, Head of Communications and External Affairs, Nahid Farzana, Head of Cards of Eastern Bank Limited were present among others on the occasion.

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