Home Bank & Finance Bangladeshis make most purchases on credit cards in India
Bank & Finance - June 11, 2023

Bangladeshis make most purchases on credit cards in India

Special Correspondent: Bangladeshis spend the most money on credit cards when visiting neighboring India. After India, Bangladeshis spend more in the United States. This information has been given in a report of Bangladesh Bank.
Bangladesh Bank has prepared a report on credit card spending trends for the first time. According to the report, Bangladeshis spend the most on credit cards in India as a single country. However, one-fourth of the total spending on credit cards outside the country is in India.
According to the Central Bank’s report, Bangladeshis spent Tk 73 crore through credit cards during their trip to India in February this year. This amount of money spent in March stood at Tk 103 crores.
According to the report, Bangladeshis spend the second highest amount on credit cards in the US after India. Bangladeshis who visited the United States in March spent about Tk 51 crore in this sector. In the same month, he went to Thailand and spent Tk 42 crores through credit card. After that, Bangladeshis spent Tk 41 and Tk 34 crore respectively through credit cards in Dubai and Singapore.
According to the calculations of Bangladesh Bank, Bangladeshis spent a total of Tk 426 crore through credit cards in the month of March.
However, last March, the total expenditure on credit cards at home and abroad was Tk 2,374 crore, which was Tk 2,172 crore in February.
According to the Central Bank report, the countries where Bangladeshis have spent the most through credit cards include the United Kingdom, Saudi Arabia, Malaysia, Canada, the Netherlands, Ireland and Australia.
Visa card is most used abroad. Then MasterCard, Amex Card, Diners Card, Union Pay and JCB Card were used respectively.
According to the report of Bangladesh Bank, in March, Bangladeshis made purchases of Tk 157 crore in foreign supershops. They bought medicines worth Tk 61 crore, bought clothes Tk 46 crore and spent Tk 29 crore on travel. Among the significant sectors of expenditure are cash withdrawals, business services, professional services and government services.

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