Mercantile Bank launches Global Debit card service on its 24th anniversary

Mercantile Bank Limited (MBL) has launched Global Debit card service on the occasion of its 24th anniversary at its head office in Dhaka on Sunday.

The bank’s Chairman Morshed Alam MP, launched the service for its customers as the chief guest, said a press release.

A press conference was held on this occasion.

In his speech, MBL Chairman highlighted the bank’s significant achievements over the last years and underscored the future action plans.

He also stated that Mercantile Bank have strengthened its pioneer position by the concerted effort from the Board of Directors, Management and the employees having faced the after-effects of Covid-19 pandemic followed by the Ukraine-Russia war.

ASM Feroz Alam and Md Abdul Hannan, Vice Chairmen of the bank, M Amanullah, Chairman of Risk Management Committee of the bank, MA Khan Belal, Chairman of Mercantile Bank Securities Ltd, Al-Haj Akram Hossain (Humayun), Alhaj Mosharref Hossain, Mohammad Abdul Awal, Directors and Shareholder Jalal Hossain Khan Mia, were also present on the occasion.

Md Quamrul Islam Chowdhury, Managing Director & CEO of the bank, gave his welcome speech summarizing the success and limitations of the previous year.

He said, “Recovering classified loans will be the priority of the bank at this fiscal year. Women entrepreneurs, Agriculture and SME sector will be given preference regarding new loans whereas new Agent Banking outlets and Upashkhas will be opened across the country to ensure the access of the banking services to the unbanked people. Moreover, Digital Banking services will be easier and smart with the innovative products in the coming days.”

Mercantile Bank account holders can use their Taka (money) deposited in current & savings accounts for shopping, cash drawing and online payment in any currency in home & abroad. The cards are widely accepted in Visa ATMs & POS over the world.

This is also compatible to NFC (Near Field Communications) technology and capable of contactless transactions up to Tk 5,000 or equivalent. Moreover, online transactions & e-commerce payment are verified by 2FA (2 Factor Authentication). Foreign currency transaction with the Global Debit card is subject to endorsement of the card to the cardholder’s passport under regular Travel Quota, the release added.