Providing business and financial literacy to 10,000 Taka 10 account holders in association with BURO Bangladesh

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Dhaka, Bangladesh, May 12,2015 — Focused on supporting communities and helping them build a brighter future, MasterCard today announced the second phase of its business literacy program with BURO Bangladesh and NRB Global Bank to provide financial & business literacy to 10,000 Taka 10 account holders.

This program will support the Bangladesh Bank Revolving Refinancing Fund for financial inclusion, offering training to ensure effective use of the microfinance loans. MasterCard launched the first phase of the business literacy program in 2013 to mark the opening of their first office in Bangladesh. In association with BURO Bangladesh, over 100,000 women entrepreneurs have received financial literacy training and business skills.

The unemployment rate in Bangladesh is 5%, with about 40% of the population being underemployed. Many participants in the labor force are able to work only a few hours a week at low wages. However, with a growing middle class, access to information technology and the development of e-commerce in the country, the people of Bangladesh have the tools to fight poverty and unemployment by creating their own businesses. The MasterCard and BURO Bangladesh program aims to educate these communities on how to succeed in business and manage personal and business assets.

The announcement was made at a press conference in the presence of the Chief Guest, Dr. Atiur Rahman, Governor, Bangladesh Bank, Vikas Varma, Executive Director, South Asia MasterCard, Zakir Hossain, Executive Director, BURO Bangladesh, Md. Abdul Quddus, Managing Director, NRB Global Bank and Syed Mohammad Kamal, Country Manager, MasterCard Bangladesh.

Speaking on the occasion Vikas Varma, Executive Director, South Asia, MasterCard said, “We are pleased to announce the launch of the second phase of our financial literacy program in Bangladesh, providing training for 10,000 Taka 10 account holders with BURO & NRB Global Bank. The training will provide participants with the knowledge and the skills to create their own opportunities and pursue their dreams. This will result in long-term benefits, not just for themselves, but also their families and society at large.”

Zakir Hossain, Executive Director of BURO Bangladesh said: “There are countless entrepreneurs out there who have self-determination, independence and individual initiative, the only gap to their dreams being financial literacy and entrepreneurial training. We hope that this program will bridge that gap because self-employment poses significant rewards to the individual, his community and eventually the entire economy.”

Globally, MasterCard supports a variety of organizations and programs that help create and sustain entrepreneurs around the world by not only supporting business and financial literacy programs for entrepreneurs but also helping small businesses thrive and grow by supporting programs that provide them with education, training and technology.

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About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

About CSR at MasterCard

MasterCard believes all people should have an opportunity to participate in the global economy. However, millions of people around the world lack access to the most basic financial tools. They don’t have secure places to save money, reliable ways to transfer it, or safe ways to transport it. Our payment innovations, such as prepaid and mobile solutions, as well as our philanthropic and consumer education programs, bring the benefit of finance to the unbanked and underbanked, helping them build a stronger future for themselves, their families and their communities.

About BURO Bangladesh

BURO began in 1990. BURO Bangladesh is a ‘not-for-profit’ organization which specializes in financial inclusion through micro-finance.  It offers solutions to tackle poverty, to promote inclusive development and to address the Millennium Development Goals.

For further details, please contact:

Effat Ara Kabir
Asistant Manager, Masthead PR
Cell: 01917707764

MD. Golam Azam Chy
Asistant Manager, Masthead PR
Cell: 01917707795