While economic pressures are leading to more value-conscious spending this Eid-ul-Adha, the transition to digital banking continues to accelerate. Md. Mahiul Islam, DMD & Head of Retail Banking at BRAC Bank, discusses how platforms like the Astha app are reshaping consumer habits and how the bank is deploying innovative tools to ensure a secure, seamless festive experience.

The Daily Star (TDS): How do you expect overall consumer spending in Bangladesh to behave during this Eid-ul-Adha season compared with last year?

Md. Mahiul Islam (MMI): Eid-ul-Adha spending is expected to grow moderately rather than seeing a sharp rebound. Rising global energy and commodity prices have outpaced income growth, squeezing household budgets. Additionally, private sector credit growth has hit a 21-year low, dampening business activity and weakening consumer confidence.

TDS: What major trends are you seeing in Eid-related digital transactions, such as card payments, mobile financial services, and online transfers?

Eid spending is shifting toward planned, digital-first behaviour as consumers increasingly utilize cashback and instalment offers. This trend is driven by e-commerce and mobile apps like BRAC Bank’s Astha, which in 2025 processed Tk 237,000 crorefor over 1.2 million customers. With monthly volumes now at Tk 24,000 crore, the app handles more than half of the bank’s total digital transactions.

TDS: How are banks preparing to support the seasonal rise in cash withdrawals, digital payments, and customer demand during Eid?

MMI: At BRAC Bank, ATM booths are adequately stocked to meet heightened cash demand and 24/7 operational support throughout the festive period. To enhance customer convenience during Eid, selected cardholders also enjoy up to a 50% waiver on bKash wallet transfer fees.

TDS: What role can banks play in making Eid travel, shopping, and Qurbani-related payments safer and more convenient for customers?

MMI: Eid compresses a large volume of financial activity into a very short period, significantly increasing transaction flows and, with it, the risk of fraud.

To manage high Eid transaction volumes and fraud risks, BRAC Bank is introducing a Smart POS device. Supporting both card and QR payments, it provides instant voice confirmation for every successful transaction, ensuring immediate and secure verification for both merchants and customers.

TDS: From a banking perspective, what financial hygiene or safety tips should customers follow while spending during Eid?

MMI: To ensure financial security, never share your PIN, OTP, or CVV, as banks will never ask for them. Cover the keypad at ATMs or POS terminals and monitor your transaction history regularly to detect fraud early.