Nazeem A. Choudhury
Deputy Managing Director
Prime Bank

The Daily Star (TDS): How is Bangladesh progressing in its transition to a cashless economy?

Nazeem A. Choudhury (NAC): Bangladesh is progressing towards a cashless economy, driven by digitalization, fintech adoption, and policy support. Mobile financial services, digital banking, and e-commerce are reshaping the financial landscape. Bangladesh Bank's QR payment system and Bangla QR standard are accelerating this shift. The rise of e-commerce further fuels digital transactions. With government support, private sector innovations, and growing consumer trust, Bangladesh is on track for a cashless future, promoting financial inclusion and economic growth. Prime Bank contributes through its "MyPrime" app, offering account management, digital payments, and card services, enhancing cashless transactions across sectors.

TDS: What is the demand for your bank's credit card in the market?

NAC: The demand for Prime Bank's credit cards is rising steadily. Over the past three years, usage has grown 2.5 times, reflecting customer trust and the increasing shift toward digital payments. Our credit cards offer accessibility, security, and valuable benefits. We aim to become a leading card-issuing bank. Beyond providing credit cards, Prime Bank actively supports Bangladesh's cashless economy vision. To promote digital transactions, we undertake initiatives like financial literacy programs and expanding digital payment channels. By encouraging cashless adoption and educating consumers, we are committed to driving the government's vision of a cashless economy in Bangladesh.

TDS: How many types of credit cards do you offer for customers?

NAC: To meet diverse financial needs, we offer various credit cards tailored to different customer segments, including Islamic banking options. Our globally accepted JCB, Mastercard, and Visa-branded cards come in World, Platinum, Gold, and Classic variants, enabling cash withdrawals and purchases worldwide. We continuously innovate to enhance customer banking experiences, introducing new credit card services that offer greater convenience, flexibility, and financial security.

TDS: Why should customers use your credit card instead of others?

NAC: We offer a range of exclusive benefits with our credit cards, tailored to meet customer needs, setting us apart from others in the market. Our cardholders enjoy up to 50 days of interest-free repayment on their credit card bills. Additionally, we offer an easy annual fee waiver with just 15 transactions, making our credit cards more affordable for customers. With MyPrime, customers can instantly transfer funds from their credit card to any account while still enjoying the interest-free period. We also provide wallet transfers and top-up facilities without any additional charges. Depending on the card type, our customers can enjoy access to over 1,400 airport lounges worldwide, ensuring a premium travel experience.

TDS: What kind of offers are you providing for customers during Ramadan and Eid-ul-Fitr?

NAC: During this special time, we are offering exclusive discounts and cashback across various categories to meet our customers' needs. For Iftar and Sehri, we have exclusive dining offers at top restaurants, including Buy-One-Get-One/Two/Three deals. Additionally, we are providing special discounts and cashback at grocery stores and retail outlets to make shopping more convenient and affordable. To help our cardholders celebrate Eid with their loved ones, we are offering exclusive cashback on major lifestyle, electronics, and ticketing platforms when using Prime Bank credit cards.