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ShopUp, the leading B2B commerce platform in Bangladesh, recently announced the joining of Mamun Rashid as its new President. This move is poised to enhance ShopUp's operational excellence and strategic direction. The company connects mills and manufacturers to small neighborhood shops, creating a seamless network for food and essentials.
Currently, 3.1 crore people in Bangladesh access food and essentials through ShopUp’s network of small shops. The company aims to reach 8 crore people by 2026. In his new role at ShopUp, his focus will be on unlocking new capital avenues and nurturing a high-performance culture. His oversight will help the company make strategic partnerships both locally and globally.
Reflecting on his new role, Rashid stated, “I am looking forward to thinking out of the box, and lending my experience to this dynamic team at ShopUp so that together we can put this Bangladeshi company on the global map.”
Mamun Rashid is a distinguished institution builder and business leader with 37 years of comprehensive experience. His career spans significant roles in both local and international firms, including PwC, Citibank N.A., Bangladesh, Standard Chartered Bank, and ANZ Grindlays Bank, among others. At PwC Bangladesh, he served as the principal interface for clients across various sectors, and also led the Financial Service business.
As Chairman of the Banking Commission at the International Chamber of Commerce Bangladesh, he focused on capacity building, resolving cross-border trade disputes, and fostering international trade. At BRAC University, he revamped post-graduate programs as a Professor of BRAC Business School and Director, as well as the Founder of the Centre for Entrepreneurship Development, strengthening industry-academia ties. As the Managing Director & Citi Country Officer for Citibank N.A., Bangladesh, Rashid transformed it into the country's most respected foreign bank, boosting its revenue from $10 million to $70 million. Additionally, his tenure at Standard Chartered Bank was marked by pioneering the treasury as an independent profit center, among other significant achievements, contributing to SCB's successful acquisition of ANZ Grindlays Bank in Bangladesh.
Afeef Zaman, Founder & CEO of ShopUp, expressed his enthusiasm about Mamun Rashid's joining, "We are excited to have Mamun Rashid joining us to propel ShopUp forward. His wealth of experience and dedication to excellence will undoubtedly play a significant role in the next phase of our journey.”
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