Eastern Bank Limited (EBL) in collaboration with Visa unveiled exclusive co-brand cards and loan products for Startup Bangladesh Limited- the flagship venture capital fund of ICT Division.

State Minister for ICT Division, Zunaid Ahmed Palak has launched the card and loan products as the chief guest along with Turkish Ambassador Mostafa Osman Turan at a ceremony held at EBL Head Office in Gulshan, on 27th October 2022.

Ali Reza Iftekhar, Managing Director and CEO of EBL said, ‘A strong believer of innovation and technology, EBL has always prioritized associating with names and organizations which work towards achieving the goal of digital transformation of Bangladesh. Startup Bangladesh is the first and only venture capital fund sponsored by the government. Startup Bangladesh’s role in building the digital infrastructure through which technology and innovation can flourish in our country is truly inspirational. Needless to say, EBL is proud to be a part of this journey.’

The co-brand card product basket includes credit, debit and prepaid cards. The co-brand credit cards which come with a number of exclusive benefits for the customers including zero issuance fees for the 1st year, zero renewal fee upon 18 transactions, and 2 free supplementary cards, among others. The cards will be usable for both domestic and international transactions.

“Bangladesh has become a fertile land for startups and innovation, which is transforming the startup ecosystem. According to a recent study over 1,200 startups are now actively functioning at the moment and every year 200 more are joining the industry. This ever-growing number of startups are serving as a vehicle for the employment of our youths. Every year thousands of young people from middle and higher-middle-income families are starting their careers in these startups. After gaining practical experience they are flourishing as entrepreneurs.” Said Zunaid Ahmed Palak, State Minister for ICT Division.

On the other hand, ‘Startup Explorer’ is a loan product for Startups in Bangladesh.

Another product meant for freelancers titled ‘EBL Freedom Freelancer Visa Debit Card’, was also launched at the program, which will help them manage their foreign currency earnings more smoother and efficiently.

Gaznobay

Gaznobay is a global business magazine.