Written by The Banking Post
Prime Bank PLC has introduced Bangladesh’s first SME Debit Card with International Remittance Facility, allowing small and medium enterprises to make secure and seamless international online payments for business purposes.
The newly launched card can also be used for local POS, ATM, and online transactions. Proprietorship firms are eligible for the debit card, while partnerships and limited companies can opt for SME Prepaid Cards, according to a press release.
This innovation follows a Bangladesh Bank directive permitting SMEs to make online international business payments. Verified SME clients registered with the SME Foundation can now refill their cards for legitimate business expenses — up to USD 600 per refill and USD 3,000 annually.
The launch ceremony, held on October 7 at Prime Tower, Nikunja, was attended by Nawshad Mustafa, Director of SME & SPD, and Md. Nazrul Islam, Additional Director of SME & SPD at Bangladesh Bank. M. Nazeem A. Choudhury, Deputy Managing Director of Prime Bank, presided over the event.
He said the new SME debit card “marks another milestone in empowering Bangladeshi entrepreneurs to engage in the global digital marketplace with confidence.”
Other senior Prime Bank officials, including Mamur Ahmed, Head of Distributions; Mohammad Aminur Rahman, Head of SME; and Joarder Tanvir Faisal, Head of Cards, were also present.
