ANZ Grindlays Bank and MasterCard International launched Bangladeshs first internationally branded credit card.
Being the first to market in Bangladesh is part of our aggressive international expansion plans, said Timothy Malloy, ANZ general manager, international payments cards marketing.
Bangladeshs foreign exchange rules had earlier not permitted foreign institutions to issue credit cards.
The countrys first ever internationally branded credit card, an ANZ Grindlays MasterCard Gold Card, was issued yesterday to Bangladeshs minister of finance, Shah AMS Kibria, in a ceremony attended by approximately 200 leaders of business and diplomatic communities.
The move is expected to boost tourism.
As the Bangladeshi economy takes off, MasterCard is here to help develop the financial infrastructure of the country, providing flexibility and convenience for Bagladeshis and improved acceptance for foreign visitors, said Sonny Sannon, MasterCards senior vice president for South Asia.
ANZ Grindlays has been a credit card player in India since 1989. It recently entered Vietnam, being the first MasterCard/Cirrus acquirer in that market.
