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MasterCard forms first ever cards industry forum

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December 8, 2000 

Dhaka--(UNB) – Member banks of MasterCard International in Bangladesh have formed the country’s first ever cards industry forum – the Bangladesh Cooperation Committee (BCC).

The committee will work towards addressing industry level issues paving the way for rapid growth of the card-based payment services industry in the country.

Kazi Abdul Mazid, Managing Director of Prime Bank Limited, has been elected chairman of the committee while Imran Ahmed, Head, Cards of Standard Chartered Grindlays Bank, its secretary.

Raghu Malhotra, Director, Area Countries, South Asia, MasterCard International, will support the group as additional secretary, said a press release yesterday (Thursday).

“I strongly believe that the Committee will provide a boost to the cards industry here and the entire banking community will greatly benefit from this major industry achievement,” said Kazi Abdul Mazid.

The BCC will regularly meet to identify and pursue opportunities of mutual interests towards the growth of card market in Bangladesh as well as individual business interests of its members.

The Committee plans to emerge as the de facto payments industry forum in Bangladesh initiating projects jointly with member banks aiming at strengthening payments industry in the country.

MasterCard International plans to undertake several key initiatives under the aegis of the BCC covering many areas including improvement of credit performance of banks.

The Committee will also seek to provide a common forum for interaction with the government bodies and regulatory authorities for furthering the interests of the industry.

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