EBL, Mastercard collaborate to deliver faster, safer remittance to Bangladesh

Eastern Bank PLC (EBL) has entered into a strategic collaboration with Mastercard to leverage its Transaction Services platform, aiming to enhance and streamline cross-border remittance capabilities to Bangladesh.

According to a press release, this association will enhance the speed, security, and convenience of money transfers for Non-Resident Bangladeshis (NRBs), reinforcing the two entities’ commitment to financial inclusion and supporting the growth of Bangladesh’s international financial ecosystem.

Ali Reza Iftekhar, Managing Director of EBL, said, “At EBL, we believe in building bridges between Bangladesh and the global community. This collaboration with Mastercard introduces a new benchmark for efficiency and trust in cross-border remittance. Our focus is on making money transfers seamless for NRBs while ensuring recipients benefit from speed, safety, and transparency. Together, we are laying the foundation for a more connected, inclusive, and digitally driven financial future.”

Suraj Vaghani, Senior Vice President, Network Management and Operations, Commercial and New Payment Flows, Mastercard, said, “For Bangladesh, remittances are more than just financial transactions—they’re vital connections that unite families and communities across borders. Through this collaboration with EBL, we’re combining Mastercard’s global payment expertise with local banking excellence to make every transfer faster, more secure, and easier to access. This association reflects our commitment to empowering NRBs with trusted digital solutions that enhance household well-being and contribute to the country’s financial resilience.”

The announcement ceremony held at Eastern Bank head office in Dhaka, yesterday October 13, 2025 was attended by senior representatives from both organizations. From Eastern Bank, attendees included Ali Reza Iftekhar, Managing Director; Mehdi Zaman, DMD, Head of Treasury FIs and Offshore Banking; M. Khorshed Anowar, DMD, Head of Retail and SME Banking along with other senior officials. Representing Mastercard were Suraj Vaghani, Senior Vice President, Network Management and Operations, Commercial and New Payment Flows; Syed Mohammad Kamal, Country Manager, Bangladesh; Sudipto Ghosh, Director, Product Management, and Md Mamun Hasan, Manager, Product Management, Commercial and New Payment Flows.