MasterCard, a global payments and technology company, has opened a local representative office in Dhaka, Bangladesh.

According to the company, the new office called, MasterCard Bangladesh will be managed by Syed Mohammad Kamal.

To meet the needs of the financially-underserved, MasterCard will offer convenient payment services by working along with key local financial institutions in Bangladesh.

Bangladesh Bank governor, Atiur Rahman, said: "We welcome the opening of MasterCard’s office in Bangladesh. MasterCard was started offering its services in Bangladesh in 1997 and we are happy to see that they now have a team operating on the ground.

"We look forward to having MasterCard work even more closely with the local partners to implement world-class payment solutions as well as help develop the local industry."