Dhaka, Bangladesh (BBN) – BRAC Bank Limited has launched a special credit card for online foreign exchange payment for specific business purposes for IT businesspeople.

The ‘BASIS-BRAC Bank co-branded credit card’ will be issued only to the members of Bangladesh Association of Software and Information Services (BASIS). The VISA card was launched on Saturday at local hotel in Dhaka, The Daily Star, a local newspaper, reported.

One card would be issued for one BASIS member company and would be used only for the specified type of foreign payment.

Launching the card, Bangladesh Bank Governor Atiur Rahman said, this type of co-branded card would be a model product for other banks to offer. BRAC Bank has come forward with new products that are supported by the central bank, he said.

The governor hoped to offer similar type of credit cards for the individuals who export software. A generic guideline has already been drafted by the central bank. Now the banks should go for international domain agreement, the governor said.

Mahboob Zaman, president of BASIS, said bad days are coming, as students do not seem interested in studying science subjects. Only 24 percent students showed interest to study science in higher education in recent years, which was 43 percent in 2000.

Syed Mahbubur Rahman, managing director of BRAC Bank, said the bank believes that people now opt for automated system for money transaction. He said BASIS members can get the co-branded card on payment of BDT 35,000 which was Tk1.5 million previously.

He also said BRAC Bank will introduce electronic commerce platform for BASIS members soon.

BBN/SSR/AD-31July11-11:37 am (BST)