The first-ever co-branded CMSME credit card in Bangladesh, developed by PriyoShop in partnership with LankaBangla Finance PLC and Mastercard, has won the Mastercard Excellence Award 2024 in the Innovation category. The award was presented by Bangladesh Bank Governor Dr. Ahsan H. Mansur at a ceremony in Dhaka, highlighting its contribution to financial innovation and inclusion under the theme "Leading by Resilience."
This groundbreaking fintech initiative provides a sustainable financial solution for MSMEs, protecting small retailers from loan sharks and fostering digital transparency. It empowers businesses by boosting buying power and introducing efficiencies in their operations, significantly impacting the B2B industry.
The collaboration between PriyoShop, LankaBangla Finance PLC, and Mastercard reflects a shared vision to promote financial inclusion and innovation across Bangladesh. Asikul Alam Khan, Founder and CEO of PriyoShop, noted the importance of simplifying financial solutions for small businesses, emphasizing the pioneering role of fintech in the country.
Syed Mohammad Kamal, Mastercard's Country Manager for Bangladesh, reaffirmed Mastercard's commitment to advancing digital finance and fostering inclusive growth. He praised the collaborative effort for creating a robust digital financial ecosystem and driving transformative change in financial services.
The CMSME credit card has become a vital tool for small retailers, ensuring accessibility to finance while promoting transparency and efficiency. The initiative has been instrumental in building a strong financial inclusion chain, demonstrating the potential of technology in empowering underserved sectors.
The award ceremony was attended by senior officials from various organizations. Trishta Maula, Acting Deputy Chief of Mission at the U.S. Embassy in Dhaka, graced the occasion as the guest of honor, further elevating the event's significance.
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