Bangladeshi nationals spent TK834 crore abroad on goods and services via credit and debit cards last year in December, making the highest investment recorded for the year, based on Bangladesh Bank data. Year-on-year in December 2023, spending via cards was rejected by just over 10% with international Bangladeshi spending at Tk929 crore.
Although, the highest in the last six months, Bangladeshis made a transaction of Tk 45,055 within the country using cards from different banks in December. The Bangladesh Bank’s Statistics Department analyzed data from different commercial banks and financial institutions, such as information on credit card applications by foreign nationals in Bangladesh.
Based on Bangladesh Bank’s November data, the highest credit card disbursement by Bangladeshis was in the United States, accounting for 15.87% of total transactions. It came after India (10.94%), Thailand (10.74%), Singapore (8.92%), and the UK (7.98%). In the past six months, in December 2024, domestic transactions reached Tk 45,055 crore. In June the recorded transactions were Tk 51,652. Between Tk 34,000 and Tk 40,000 crore, the transaction amount has extended to June.
For increasing card applications, banks are offering promotions including discounts on shipping bills and free access to airport lounges, depending on card type. Card transactions have been steadily growing as the COVID-19 pandemic, increasing from Tk 20,672 crore in 2020 to Tk 45,352 crore in 2023. On the other hand, December 2024 saw a slight downturn compared to December 2023.
Source: The Business Standard
