Dhaka Bank Shines with Three Wins at Mastercard Excellence Awards 2024

In a remarkable achievement that underscores its leadership in the financial sector, Dhaka Bank clinched top honors in three key categories at the Mastercard Excellence Awards 2024, held on November 16 at the Radisson Blu Water Garden Hotel, Dhaka. The event celebrated excellence and innovation in the banking and fintech industries, emphasizing contributions to financial inclusion and digital transformation.

Themed “Leading by Resilience”, this year’s awards recognized organizations that have consistently adapted to market challenges while fostering sustainable growth in Bangladesh’s evolving financial landscape. Dhaka Bank stood out for its exceptional performance in credit business, innovation, and growth in card issuance.

Victory for Dhaka Bank

At the Mastercard Excellence Awards 2024, Dhaka Bank won accolades in the following categories:

1. Mastercard Credit Business(Growth) 2023-24

This award acknowledged Dhaka Bank’s extraordinary 100% growth in domestic transactions. By enhancing its credit card offerings and ensuring seamless payment experiences for local consumers, Dhaka Bank has strengthened its position as a leader in the domestic credit market.

2. Mastercard Business (Innovation) 2023-24

Dhaka Bank redefined customer experience through the introduction of exclusive co-branded credit cards in partnership with three of the most prestigious social clubs in Bangladesh—Dhaka Club, Gulshan Club, and Uttara Club. These cards offer elite privileges tailored to meet the needs of high-net-worth individuals, marking a significant milestone in innovation.

3. Mastercard Business Growth (Issuing) 2023-24

Dhaka Bank achieved the highest growth in card issuance across the industry. This accomplishment highlights the bank’s success in expanding access to digital payment solutions and fostering financial inclusion in a rapidly digitizing economy.

The awards ceremony was a gathering of industry leaders, policymakers, and innovators. Mr. Sheikh Mohammad Maroof, Managing Director of Dhaka Bank PLC, accepted the awards on behalf of the bank from Dr. Ahsan H. Mansur, the Honorable Governor of Bangladesh Bank. The event was also graced by notable figures, including:

• Ms. Trishita Maula, Acting Deputy Chief of Mission, US Embassy in Dhaka
• Mr. Md. Mostaque Ahmed, Deputy Managing Director & CEMO of Dhaka Bank PLC
• Mr. H.M. Mostafizur Rahaman, SEVP & Head of Retail Business Division, Dhaka Bank PLC
• Mr. Syed Mohammad Kamal, Country Manager of Mastercard Bangladesh

The presence of these dignitaries underscored the importance of the awards in recognizing contributions to Bangladesh’s financial ecosystem.

Mastercard Excellence Awards

The Mastercard Excellence Awards are a prestigious platform that celebrates innovation and excellence in banking, payments, and fintech. The 2024 theme, “Leading by Resilience,” reflected the challenges faced by the financial sector in adapting to global disruptions while continuing to promote financial inclusion and digital transformation.

Mastercard, a global leader in payment solutions, has been instrumental in enabling banks and fintech companies to thrive in an increasingly digital world. The awards highlight success stories that inspire others to innovate and adapt.

Dhaka Bank’s achievements at the Mastercard Excellence Awards are no coincidence. The bank has long been a pioneer in Bangladesh’s financial sector, known for blending tradition with innovation. Its focus on customer-centric services and technological advancements has set it apart.

1. Customer-Centric Innovation

Dhaka Bank’s co-branded credit cards with Dhaka Club, Gulshan Club, and Uttara Club exemplify its dedication to offering unique solutions tailored to customer needs. These cards not only provide financial flexibility but also grant access to exclusive privileges, enhancing the overall customer experience.

2. Financial Inclusion

As Bangladesh moves toward a cashless society, Dhaka Bank has played a pivotal role in expanding access to digital payment solutions. By making financial services more accessible to underbanked and underserved communities, the bank has contributed significantly to financial inclusion.

3. Digital Transformation

Dhaka Bank has consistently invested in digital technologies to improve efficiency and customer convenience. From introducing user-friendly mobile banking apps to enabling seamless online transactions, the bank is at the forefront of Bangladesh’s digital banking revolution.

Related: Islamic Banking Thriving in Bangladesh

Dhaka Bank’s Victory

The recognition at the Mastercard Excellence Awards 2024 reinforces Dhaka Bank’s reputation as a leader in innovation and growth. Here’s why this victory matters:

• Confidence Among Stakeholders The awards validate Dhaka Bank’s efforts to drive growth and innovation, boosting confidence among stakeholders, including customers, investors, and industry partners.
• Financial Ecosystem By setting benchmarks in credit business, innovation, and card issuance, Dhaka Bank is contributing to the overall development of Bangladesh’s financial sector.
• Innovation Dhaka Bank’s achievements serve as an inspiration for other financial institutions to embrace innovation and resilience in the face of challenges.

Founded with a vision to integrate Bangladesh’s rich heritage into modern banking practices, Dhaka Bank has consistently upheld its commitment to excellence. The bank’s branding, publications, and customer initiatives reflect its deep connection to the history and culture of Dhaka.

1. Launching innovative financial products that cater to diverse customer needs
2. Expanding its reach across urban and rural areas to promote financial inclusion
3. Investing in sustainability initiatives to support environmentally friendly practices.

As Bangladesh continues its journey toward a digitally empowered economy, Dhaka Bank is poised to play a leading role. The bank’s future plans include:

1. Digital Services

Dhaka Bank aims to enhance its digital platforms, offering seamless banking experiences through mobile apps, online banking, and contactless payment solutions.

2. Strategic Partnerships

The bank plans to collaborate with global leaders like Mastercard and local fintech startups to drive innovation and expand its product offerings.

3. Financial Literacy

Dhaka Bank is committed to educating customers about the benefits of digital payments and responsible financial management, ensuring that no one is left behind in the digital transformation.

A Broader Perspective

The Mastercard Excellence Awards not only celebrate individual achievements but also highlight broader trends shaping the financial sector. Key takeaways from this year’s event include:

• Digital Payments Bangladesh is witnessing a surge in digital payment adoption, driven by increased smartphone penetration and internet connectivity.
• Financial Inclusion Fintech companies are playing a critical role in bridging the gap between traditional banking and underserved communities, aligning with the goals of financial inclusion.
• 3. Collaboration Collaboration between banks, fintech companies, and regulators is essential for building a resilient and inclusive financial ecosystem.

Dhaka Bank’s stellar performance at the Mastercard Excellence Awards 2024 is a testament to its commitment to innovation, resilience, and growth. By excelling in credit business, innovation, and card issuance, the bank has set a new standard for excellence in Bangladesh’s financial sector.

As Dhaka Bank continues to embrace digital transformation and foster financial inclusion, it remains a shining example of how resilience and innovation can drive success in an ever-evolving industry. The road ahead is bright for Dhaka Bank as it leads the way in shaping the future of banking in Bangladesh.