Bangladeshi banks are preparing to manage card issuance without relying on foreign software providers, following the successful deployment of the country’s first locally developed card personalization system.
Kona Software Lab Ltd. (Kona SL), a Dhaka-based payment and security solutions company, has implemented its Kona Card Personalization System (K-CPS) for Islami Bank Bangladesh PLC, one of the country’s largest commercial banks.
The system, compliant with global EMV standards, enables Islami Bank to issue debit, credit, and prepaid cards under the domestic TakaPay scheme as well as international brands such as Visa, Mastercard, and UnionPay.
The milestone was celebrated at an event at The InterContinental Dhaka on Thursday, attended by representatives from Bangladesh Bank, Islami Bank, and leading industry stakeholders. Officials said the introduction of K-CPS is expected to reduce dependency on foreign software, save valuable foreign currency, and shorten processing times.
“With K-CPS, Kona Software Lab has shown that Bangladesh is no longer just a consumer of foreign technology but a provider of world-class solutions with fully local innovation and support,” said Siraj Siddiquey, Chief Business Officer at Kona SL. “This will play a pivotal role in shaping the future of digital payments in the country.”
Arief Hossain Khan, Executive Director at Bangladesh Bank, hailed the achievement as a strong step towards building a cashless Bangladesh. “This has given us new hope and laid a solid foundation for our digital future,” he said.
Md. Mosharraf Hossain, Executive Vice President and Head of Digital Banking at Islami Bank, shared the bank’s positive experience with the system.
Looking ahead, Kona SL plans to establish a card manufacturing facility and personalization bureau in Bangladesh, while also preparing to launch its own Card Management System and certified tokenization service. The company believes these steps will further strengthen the nation’s payments ecosystem and enable banks to deliver modern, secure digital services.
Kona SL, founded in 2012, has already powered several major digital platforms in Bangladesh, including NexusPay, Nagad, and Rainbow.
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