Bangladesh to Graduate from LDC by 2026 Despite Challenges

Graduating from the least developed country (LDC) category will be a significant challenge for Bangladesh, amid ongoing debates surrounding the process. However, the country is determined to achieve this milestone by 2026, said Finance Adviser Salehuddin Ahmed.

He emphasised that businesses in Bangladesh need to accelerate their efforts to keep pace with rapidly advancing nations, warning that falling behind is not an option.

Ahmed made these remarks while serving as the chief guest at the launch of five new card services by Mercantile Bank in partnership with Mastercard, held in Dhaka.

“We are committed to promoting digital transactions as much as possible, as they bring greater transparency and traceability,” he said.

Despite growing digital adoption, Ahmed highlighted the need to address challenges faced by users, such as excessive questioning by banks, which can discourage wider participation.

He noted that credit cards are especially important for facilitating remittances and enhancing financial inclusion.

“I extend my best wishes to Mercantile Bank and Mastercard for their ongoing efforts to boost private sector growth and drive digital transformation in the financial ecosystem,” he added.

Syed Mohammad Kamal, Mastercard Bangladesh’s country manager, described the launch as a key milestone in expanding Mastercard’s issuing network across the country.

“These new cards offer Mastercard users a seamless, borderless payment experience, tailored to meet their evolving needs,” Kamal said.

Mati Ul Hasan, managing director of Mercantile Bank PLC, expressed pride in partnering with Mastercard to introduce a comprehensive range of credit, debit, and prepaid card products under their new Principal Membership.

“This initiative supports our wider mission of aiding Bangladesh’s transition to a cashless, digitally empowered society,” Hasan said.