Written by The Banking Post
Senior Correspondent
India, once the top destination for Bangladeshi credit card users, has seen a sharp decline in usage, while China has unexpectedly surged to second position in overseas transactions. This shift in spending behavior follows significant political changes within Bangladesh, according to the latest update from Bangladesh Bank.
🇮🇳 Sharp Fall in Indian Transactions
In May 2024, Bangladeshis spent Tk 76.05 crore in India using credit cards. Just a year later in May 2025, that figure dropped to Tk 21 crore—a sharp decline of Tk 55 crore. Even month-on-month, spending dropped from Tk 31 crore in April to Tk 21 crore in May, pushing India down to seventh place among top foreign destinations.
🇨🇳 China Rises Unexpectedly
Meanwhile, credit card transactions in China soared.
- April 2025: Tk 11.03 crore
- May 2025: Tk 40.04 crore → up Tk 29 crore in a single month
Notably, China was not even on the top transaction list last May. This time, it has emerged as the second most popular market for Bangladeshi cardholders.
🌍 Global Usage Trends
In May 2025, Bangladeshis spent a total of Tk 386.05 crore abroad via credit cards—down Tk 81.02 crore from April and Tk 70 crore year-on-year.
🔝 Top 12 Destinations (May 2025):
| Country | Spend (Tk crore) |
|---|---|
| USA | 53.05 |
| China | 40.04 |
| Thailand | 35 |
| UK | 34 |
| Singapore | 32 |
| Malaysia | 24 |
| India | 21 |
| Netherlands | 17 |
| Saudi Arabia | 17 |
| Canada | 16 |
| UAE | 13 |
| Australia | 12 |
| Other | 67 |
🏦 Restricted Accounts Affect Spending
Sources say political transitions have led to the freezing of many bank accounts belonging to prominent individuals. This has rendered many credit cards inactive, despite sufficient account balances, affecting international usage.
🇧🇩 Foreigners Spend More in Bangladesh
Inbound credit card transactions by foreigners also increased:
- April 2025: Tk 262 crore
- May 2025: Tk 277 crore (+Tk 15 crore)
Top spending countries:
- USA: Tk 117 crore
- UK: Tk 21 crore
- India: Tk 16 crore
💳 Domestic Credit Card Usage Also Up
In-country transactions rose notably:
- April 2025: Tk 3,016 crore
- May 2025: Tk 3,220 crore → up Tk 204 crore in one month
