Dhaka:Bangladeshis continue to spend substantially more using cards abroad compared to foreign nationals spending within Bangladesh. The latest data from the central bank reveals that outbound card transactions are nearly four times higher than inbound spending.
According to United News of Bangladesh, in August, Bangladeshis spent approximately Tk 987 crore using cards abroad, marking a slight increase from Tk 985 crore in July. In contrast, foreign nationals spent about Tk 249 crore using cards within Bangladesh in August, a 6.27 percent increase from Tk 234 crore the previous month. This disparity underscores the growing trend of international card-based expenditures by domestic users.
The data indicates that outbound expenditures in August were divided among credit cards (Tk 504.60 crore), debit cards (Tk 422.10 crore), and prepaid cards (Tk 60.10 crore). The United States was the leading destination for foreign credit card transactions by Bangladeshis, with 17.16 percent of the total. Thailand, the United Kingdom, India, and Singapore followed. The UK topped debit card transactions with 14.19 percent, while India accounted for the highest prepaid card usage at 18.71 percent.
Meanwhile, domestic credit card transactions within Bangladesh decreased by 5.44 percent, dropping from Tk 4,324.80 crore in July to Tk 4,089.30 crore in August. Department stores led domestic credit card transactions at 48.14 percent, followed by retail outlets at 12.67 percent, utility bill payments at 10.80 percent, pharmacies at 6.94 percent, and cash withdrawals at 6.43 percent. Despite the overall decline, some categories such as retail outlets saw increased spending from Tk 477.90 crore to Tk 518.30 crore.
Central bank data also shows significant growth in plastic money usage over the past five years. By September 2021, there were 2.42 crore debit cards, 17.63 lakh credit cards, and 10.27 lakh prepaid cards. These numbers expanded to approximately 4 crore debit cards, 28.05 lakh credit cards, and 92.71 lakh prepaid cards by August 2026, reflecting a 96 percent increase in total card numbers and a 103 percent rise in transaction volumes, with prepaid cards growing the fastest.
The total approved credit limit against credit cards reached Tk 43,108 crore by the end of August, with outstanding loans amounting to Tk 14,482 crore. Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan noted the central bank's initiatives to discourage cash transactions and promote digital payments, including expanding the Bangla QR code system.