MasterCard has announced the appointment of Syed Mohammad Kamal as country manager for Bangladesh and Mohammad Anwar Hossain as director, business development in a move to reaffirm its commitment to South Asia as it sets to launch a local representative office mid-year in the country’s capital, Dhaka.
The decision to build a stronger presence locally has come about in part to the rapid development and industrialisation the country has been seeing over the last few years and the promise of further growth which could be achieved through a more robust electronic banking and payments system.
Being the eighth most populous country in the world with over 160 million people, Bangladesh has experienced steady economic growth at an average of approximately 6% over the past decade. Bangladesh was also recently identified as a Next Eleven emerging economy with the potential to become one of the world’s largest economies in the 21st century.
Kamal will be based in Dhaka and report to Vikas Varma, area head, South Asia, MasterCard Worldwide. He will be tasked with executing MasterCard’s strategy in Bangladesh, working closely with partner financial institutions, merchants and regulators.
Vicky Bindra, President, MasterCard Worldwide, Asia/Pacific, Middle East and Africa, said: “There are tremendous growth opportunities in Bangladesh. The appointment of an in-market team, who bring with them a wealth of experience and first-hand knowledge, reaffirms our deep commitment to the market.”
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