Transforming retail through strategic digital solutions: Mutual Trust Bank PLC

Syed Mahbubur Rahman
Managing Director & CEO
Mutual Trust Bank PLC

Consumers are increasingly choosing digital tools over cash for security and rewards. Through MTB NEO and MuthoPay, we are ensuring seamless transactions and empowering merchants to manage capital efficiently during the high-traffic Eid rush.

Mutual Trust Bank PLC highlights how digital convenience is transforming Ramadan retail. In this interview, MD and CEO, Syed Mahbubur Rahman discusses fostering digital and smart paymentd through the MTB NEO app, MuthoPay, strategic rewards, and seamless MFS integrations to support consumer needs during the festive rush.

The Daily Star (TDS): With Ramadan approaching, how has your bank observed a shift in consumer spending behavior in recent years?

Syed Mahbubur Rahman (SMR): We’ve observed significant increases in early grocery stocking, dining transactions during Iftar and Sehri, and a surge in lifestyle spending. Customers are highly responsive to cashback and BOGO deals, strategically planning purchases for apparel, electronics, and travel as Eid approaches.

TDS: What trends are you seeing in the transition from cash to digital channels for festive shopping?

SMR: There is an accelerating movement toward cards, MFS scan-to-pay, and online wallets. Consumers prefer digital tools over cash to avoid carrying large sums and to benefit from heavy rewards and promotional incentives offered during this period.

TDS: What specific campaigns or offers has your bank structured this season? How do these promote “smart spending”?

SMR: We offer 10% cashback at premier lifestyle outlets, 10X rewards at major groceries, and 5X points for entertainment. Coupled with B1G1/2/3 dining buffets and EMI cashback for home upgrades, these initiatives help cardholders manage seasonal expenses while maximizing value.

TDS: Are there features facilitating Zakat payments and Eidi transfers?

SMR: The MTB NEO app features a donation module supporting 23 foundations, including 12 dedicated to Zakat management. It also facilitates “Eidi” by allowing users to gift money instantaneously to any Bangladeshi mobile wallet or digital number.

TDS: How are you supporting small merchants during the Eid rush?

SMR: We launched MuthoPay, a SoftPOS solution that transforms smartphones into payment terminals. By crediting QR and POS payments directly into bank accounts, we help merchants manage working capital efficiently while reducing risks associated with cash handling.

TDS: How do your savings products help customers prepare financially for Ramadan and Eid?

SMR: DPS products like MTB Brick by Brick and Lakhopoti encourage structured monthly deposits. These build a financial buffer, allowing customers to accumulate reserves for festive expenses without relying on high-cost borrowing.

TDS: How do you envision the future of festive spending?

SMR: We anticipate continued acceleration in digital payments, driven by a younger demographic. Spending will become more campaign-sensitive and installment-based, with cross-border e-commerce and travel-related spending playing a much larger role in the ecosystem.