Expanding in Bangladesh
JCB International Co., Ltd. (JCBI) has announced that commercial Bangladeshi bank BRAC Bank Limited (BRAC Bank), starts JCB merchant acquiring operations in Bangladesh based on a license agreement. With this agreement, JCB cards will be accepted at over 3,400 BRAC Bank merchants throughout Bangladesh by the end of October 2013.
BRAC Bank, established in 2001, is majorly owned by the world’s largest non-governmental organization, BRAC, and is leading the payment industry in the country with a progressive approach such as mobile payment service.
With the world’s large attention to Bangladesh’s growing economy, JCB has been planning to expand its existing merchant network in the region in order to meet the demands of JCB cardmembers visiting Bangladesh mainly for business purpose.
Kimihisa Imada, Deputy President of JCBI said, “I am sure that an increasing number of JCB acceptance locations in Bangladesh will bring more benefit and convenience to JCB cardmembers visiting this country. This will also be a strong business opportunity for our future card issuing business in this region.”
Mr. Syed Mahbubur Rahman, Managing Director & CEO, BRAC Bank Limited, said, “BRAC Bank, being one of the largest online network of banking services in Bangladesh, looks forward to welcoming JCB cardmembers. This is just the beginning of a phenomenal expansion of JCB solutions across Bangladesh.”
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