MasterCard prepaid card launched for RMG wage payment
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and MasterCard today launched co-branded credit cards for the BGMEA members and prepaid cards for more than 4.5 million garment workers.
Mutual Trust Bank will issue the MasterCard World credit cards, the platform of garment makers and exporters said in a statement today.
The pre-paid card for the garment workers will be launched and issued by Southeast Bank Ltd, according to the statement.
The prepaid cards will help disbursement of garment workers' wages, potentially having the capability to ensure financial inclusion of 4.5 million RMG workers, the BGMEA said.
The card will also ensure safe digital distribution and transfer of funds for the convenience of workers, it said.
In addition, the RMG workers of the BGMEA enlisted garments will get the 'SEBL MasterCard Prepaid Card', which is designed to provide more convenient, safer and smarter options for payments rather than cash, according to the statement.
BGMEA President Faruque Hassan, Country Manager of Mastercard Bangladesh Syed Mohammad Kamal, Managing Director and CEO of Mutual Trust Bank Limited Syed Mahbubur Rahman, Managing Director of Southeast Bank Limited M Kamal Hossain signed an agreement in this regard at a programme.