Launch of the MasterCard prepaid card for the payment of RMG salaries

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and MasterCard today launched co-branded credit cards for BGMEA members and prepaid cards for over 4.5 million garment workers.

Mutual Trust Bank will issue MasterCard World credit cards, the apparel manufacturers and exporters platform announced in a statement today.

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The prepaid card for garment workers will be launched and issued by Southeast Bank Ltd, according to the statement.

The prepaid cards will help pay the wages of garment workers, potentially having the capacity to provide financial inclusion for 4.5 million RMG workers, BGMEA said.

The card will also provide secure digital distribution and transfer of funds for the convenience of workers, he said.

In addition, BGMEA-enlisted garment RMG workers will be provided with the “SEBL MasterCard Prepaid Card”, which is designed to provide more convenient, secure and smarter payment options rather than cash, according to the statement.

BGMEA Chairman 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 Mr. Kamal Hossain signed an agreement in this regard during of a program.

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Elaine R. Knight