City Bank, American Express team up over credit cards

Officials of The City Bank and American Express pose with replicas of two credit cards at a function in Dhaka yesterday. The bank will issue American Express credit cards in Bangladesh. Unitrend LtdStar Business Desk

City Bank and American Express yesterday announced a strategic alliance and unveiled two new American Express credit cards for Bangladeshi users.

The Bangladeshi bank will issue two credit cards of the American company, named American Express Gold Credit Card and American Express Credit Card.

City Bank will be responsible for all operations, including billing and accounting, customer service, credit management, charge authorisations and marketing, it said in a statement.

City Bank will also be the exclusive merchant acquirer for American Express and plans to grow the number of locations that will accept the cards.

"The introduction of the cards with such strong privileges and benefits is nothing but a testimony to City Bank's commitment and leadership in the retail or consumer banking sphere of this market," said City Bank Chairman Aziz Al Kaiser.

“With City Bank's strong distribution network, highly professional management team and established customer base in Bangladesh, we are confident that our partnership will bring significant benefits to both parties,” said Kula Kulendran, executive vice president of American Express and head of Global Network Services in Japan, Asia Pacific and Australia.

American Express Card holders will enjoy "exclusive benefits and offers", which include a complimentary return ticket from Jet Airways to Kolkata and a couple of return Mercedes-Benz coach tickets to Cox's Bazar, 6 percent cash back on shopping at Agora superstores and Nandan Megashops.

The members will also have access to the global American Express Selects programme, which provides benefits and offers from thousands of retail stores, hotels and restaurants when travelling overseas.

The membership also offers an array of distinctive value-added travel benefits such as an access to more than 800,000 ATMs around the world.

“For City Bank, the alliance with a prestigious global brand such as American Express is in line with our ongoing commitment to provide enhanced card payment facilities and flexibility to our customers,” said Mahmood Sattar, managing director and chief executive officer of City Bank.

City Bank has 84 online branches and 5 SME centres and 300 ATM's across the country. It has strong tie-ups with major exchange companies in the Middle East, Europe, Far East and USA.

American Express Company is a leading global payments, network and travel company founded in 1850. It has now established 131 partnerships in 130 markets across the world.