As Bangladesh readies for Eid-ul-Adha amid rising digital adoption and shifting consumer behaviours, festive expenditures are increasingly migrating from cash to mobile apps, QR payments, cards and internet banking. In an interview with The Daily Star, NRBC Bank Managing Director and CEO Dr Md. Touhidul Alam Khan, FCMA, outlined Eid spending patterns, the trajectory of digital banking, customer security measures, SME financing needs and how banks are responding to a rapidly evolving payments landscape.

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?

Dr Md. Touhidul Alam Khan (TAK): We expect overall consumer spending during this Eid-ul-Adha to remain strong and be moderately higher than last year despite inflationary pressures. Eid is both a religious observance and a significant economic occasion that stimulates demand across livestock, apparel, transport, food, electronics and remittances. Consumers are becoming more planned and value-conscious, while digital channels are enabling faster, more convenient transactions.

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

TAK: A notable trend is the rapid adoption of QR-based payments and mobile app transactions, with customers preferring seamless, contactless methods across malls, cattle markets, restaurants and e-commerce platforms. Card transactions through POS terminals and online gateways are rising steadily, and internet banking and instant fund transfers are increasingly used for family support, Qurbani payments and travel expenses.

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

TAK: At NRBC Bank, we are reinforcing ATM cash replenishment, extending customer service support and intensifying cybersecurity monitoring during peak activity. We ensure uninterrupted availability of our Planet App, internet banking and card payment systems, and coordinate closely with Bangladesh Bank, payment networks and merchant partners. Moreover, customers should remain vigilant because fraud attempts typically rise during peak seasons. They should never share OTPs, CVV numbers or mobile banking PINs, use only official banking apps, avoid suspicious links and fake promotions, and regularly monitor transaction alerts and account statements.

TDS: Do you think Bangladesh is moving toward a more cashless Eid economy? What is driving that shift?

TAK: Yes. Bangladesh is progressively becoming more cash-light and digitally connected during festive periods. Key drivers include rapid smartphone and internet penetration, heightened consumer preference for convenience, speed and security, and supportive government and Bangladesh Bank initiatives promoting digital financial inclusion.