Bank Asia driving the next chapter of credit card growth

Credit cards in Bangladesh are no longer limited to facilitating simple transactions. They are evolving into true lifestyle partners that support travel, e-commerce, dining, and healthcare in a seamless way. As more people move towards cashless living, these cards are reshaping consumer behaviour by offering flexibility, global access, and exclusive privileges. This evolution aligns with the aspirations of Bangladesh's expanding middle class, which increasingly values convenience, security, and experiences.

In recent years, the growth has been significant. The number of credit cards in Bangladesh has been increasing by around 13% annually, while transactions have grown by nearly 20%. To keep pace with this demand, we at Bank Asia have revised our credit card policies to better serve the middle class, ensuring our offerings reflect the benefits and conveniences they truly seek. However, growth must remain responsible. That is why we apply strict credit assessments, set prudent limits, and actively promote financial literacy so our customers can manage their credit with confidence.

With digital transactions expanding rapidly, ensuring trust and security is critical. At Bank Asia, we have integrated advanced technologies such as EMV chip, NFC, and two-factor authentication to protect payments. At the same time, we have focused on maintaining a seamless user experience by providing instant alerts and complying with global security standards in partnership with Visa and MasterCard. This dual approach gives customers both peace of mind and ease of use.

In a market where cashback and rewards have become the norm, differentiation lies in designing experiences that truly resonate with different lifestyles. At Bank Asia, we don't believe in a one-size-fits-all model. Instead, we curate segmented value propositions tailored to various customer groups. From five-star hotel experiences like kebab feasts, wedding programs, and Qawwali nights, to "Stay 1 Night, Get 1 Night Free" packages, our partnerships deliver unique privileges. Beyond hospitality, we ensure year-round campaigns across food, entertainment, lifestyle, and travel, so customers enjoy relevant benefits continuously—not just on special occasions.

Policy and regulation also play a defining role in the growth of credit cards. Recent initiatives by Bangladesh Bank, such as the withdrawal of mandatory return submissions, have already had a positive impact. Yet challenges remain. The manual process of obtaining CIB reports slows operations, and automating this through API-based integration could vastly improve efficiency. Similarly, introducing a unified financial identity would allow banks to better assess customer strength, ensuring responsible but inclusive expansion. Currently, the maximum credit limit is capped at BDT 10 lacs, but given the growing financial capacity of our customers, we are optimistic that the regulator will consider revising this ceiling to support evolving lifestyle and economic needs.

Globally, we are seeing the rise of "buy now, pay later" models and digital wallets. In Bangladesh, I believe these innovations will complement, not compete with, credit cards. BNPL solutions cater to younger consumers seeking short-term flexibility, while wallets are ideal for micro-payments. Credit cards, however, remain unmatched in terms of global acceptance, structured credit, and lifestyle privileges. To bridge this, we already offer EMI facilities to all credit card customers at thousands of merchant points nationwide—delivering the same flexibility as BNPL, but with stronger protection and wider acceptance.

The future of credit cards in Bangladesh is one of inclusivity, innovation, and lifestyle transformation. As the middle class continues to expand and digital adoption accelerates, we are committed to ensuring that Bank Asia's credit cards empower our customers not just financially, but in the way they live, experience, and enjoy life.