Strengthening Cardholder Data Protection through PCI DSS Certification
Dhaka, Bangladesh – 05 February 2026 – Risk Associates, a leading PCI Qualified Security Assessor (QSA), is pleased to announce that IFIC Bank PLC has successfully achieved the internationally recognised Payment Card Industry Data Security Standard (PCI DSS) certification, reinforcing the Bank’s commitment to protecting cardholder data and securing digital payment operations.
Achieving PCI DSS certification is a significant milestone for financial institutions that store, process, or transmit payment card information. IFIC Bank PLC’s compliance demonstrates its dedication to maintaining robust security controls, meeting regulatory requirements, and strengthening customer confidence in digital banking and payment services.
The certification handover ceremony was held on Thursday, 5 February 2026, at IFIC Tower, Dhaka, marking an important step in the Bank’s continued journey towards excellence in information security and operational resilience.
At the ceremony, Dr Aftab Rizvi, Chief Executive Officer of Risk Associates, along with Mr Iftekhar Alam Ishaq, Chief Executive Officer of SSL Wireless Limited, formally presented the PCI DSS Certificate of Compliance to Mr Syed Mansur Mustafa, Managing Director of IFIC Bank PLC.
Speaking on the occasion, Dr Aftab Rizvi highlighted that the certification reflects IFIC Bank’s proactive approach to strengthening card data security and fostering a secure and trusted digital payments ecosystem in Bangladesh. He further reaffirmed Risk Associates’ commitment to supporting organisations in aligning with global security standards and industry best practices.
The ceremony was attended by Deputy Managing Directors of IFIC Bank PLC, members of the Senior Management Team, and senior representatives from Risk Associates and SSL Wireless Limited, reflecting the collaborative effort behind this achievement.
Through adherence to PCI DSS requirements, IFIC Bank PLC continues to enhance and modernise its card data security framework, ensuring the highest level of protection for sensitive customer information while supporting secure digital payment services.
About Risk Associates
Risk Associates is a leading management systems certification body accredited by UKAS that provides ISO/IEC 27001 certifications. It also offers assessments against various standards, including Payment Card Industry standards such as PCI DSS, PCI SSF, PCI PIN, PCI 3DS, and C.S.A., Offensive security testing services such as Penetration Testing, Vulnerability Scans, Red Teaming, Managed Services, SOC I, and II.
With a legacy spanning two decades, Risk Associates is committed to mitigating risks and delivering comprehensive compliance, testing, audits, and certifications.
About IFIC
IFIC Bank PLC is a banking company incorporated in the People’s Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and Sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the People’s Republic of Bangladesh (including Directors) holds 32.75% of the share capital of the Bank and the rest is held by Institutions both Local & Foreign and General Shareholders. The Government is being represented by two nominated Directors on the Board of the Bank. Among them, the current Board of Directors are formed by Bangladesh Bank with four Independent Directors came from different sectors with vast knowledge and experience.
