JCB International Co., Ltd. (JCBI), the international subsidiary of JCB, the only global payment brand based in Japan today announced that BRAC Bank Limited (BRAC Bank), a leading commercial bank in Bangladesh, starts JCB merchant acquiring operations in Bangladesh based on a license agreement. With this agreement, JCB cards will be accepted at over 3,400 BRAC Bank merchants throughout Bangladesh by the end of October 2013.
BRAC Bank, established in 2001, is majorly owned by the world’s largest non-governmental organization, BRAC, and is leading the payment industry in the country with a progressive approach such as mobile payment service.
With the world’s large attention to Bangladesh’s growing economy, JCB has been planning to expand its existing merchant network in the region in order to meet the demands of JCB cardmembers visiting Bangladesh mainly for business purpose.
Kimihisa Imada, Deputy President of JCBI said, “I am sure that an increasing number of JCB acceptance locations in Bangladesh will bring more benefit and convenience to JCB cardmembers visiting this country. This will also be a strong business opportunity for our future card issuing business in this region.”
Mr. Syed Mahbubur Rahman, Managing Director & CEO, BRAC Bank Limited, said, “BRAC Bank, being one of the largest online network of banking services in Bangladesh, looks forward to welcoming JCB cardmembers. This is just the beginning of a phenomenal expansion of JCB solutions across Bangladesh.”
“With the partnership, BRAC Bank and JCBI will work together for long term cooperation and expansion of cards services in emerging Bangladesh market for local and international customers,” he added.
About BRAC Bank Limited
BRAC Bank is one of country’s fastest growing banks. With 155 branches, more than 350 ATMs, 400 SME Unit Offices and over 8,000 human resources, BRAC Bank operation now cuts across all segments and services in financial industry. With more than 1.2 million customers, the bank has already proved to be the largest SME Financier in just 12 years of its operation in Bangladesh and continues to broaden its horizon into Retail, Corporate, SME, Probashi and other arenas of banking. In 2013 BRAC Bank has received the prestigious ‘The Asian Banker Best Managed Bank in Bangladesh’. In the year 2010, BRAC Bank has been recognized as Asia’s most Sustainable Bank in Emerging Markets by the Financial Times and IFC. The Bank is the country’s first founder member of Global Alliance for Banking on Values (GABV) – a network of the world’s leading sustainable banks. For more information, visit: www.bracbank.com
JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes over 23 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 16 countries and territories, with more than 80 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english
JCB International Co., Ltd.
Ayako Tanaka, Junko Asaoka
Corporate Planning Department