BRAC Bank launches multicurrency SME business debit, credit cards

BRAC Bank PLC has launched Visa multicurrency SME business debit and credit cards to enable small and medium enterprise (SME) customers to carry out authorised business-to-business (B2B) local and foreign currency transactions, supporting smoother business operations.

Tareq Refat Ullah Khan, managing director and chief executive officer of BRAC Bank PLC, inaugurated the cards as the chief guest at the bank’s head office in Dhaka recently, according to a press release.

Speaking at the event, Khan said, “SMEs are at the heart of Bangladesh’s economic growth. With the launch of the Visa Multicurrency SME Business Debit and Credit Cards, we are addressing a real, practical need, empowering SMEs to transact globally with greater confidence, transparency and regulatory alignment.”

“We are thankful to Bangladesh Bank for providing the framework that makes this possible,” he added.

Sabbir Ahmed, country manager for Bangladesh, Nepal and Bhutan at Visa, said digital payment solutions play a critical role in enabling SMEs to connect with global markets.

“Our partnership with BRAC Bank reflects a shared commitment to supporting SMEs through secure, reliable and globally accepted payment solutions that simplify cross-border transactions and open new opportunities for growth,” he added.

The cards allow eligible SME customers to access foreign exchange facilities under a dedicated SME business quota.

Under this facility, SME customers can conduct foreign currency transactions of up to $3,000 annually.

The cards can be used for point-of-sale (POS), ATM and e-commerce transactions both locally and globally, enabling SMEs to expand their operational reach, manage overseas payments efficiently and participate more actively in the global economy.

Nazeem Hassan Satter, deputy managing director of SME Foundation, along with other senior officials from the participating organisations, was also present.