As Eid-ul-Fitr nears, men, women, and children are thronging marketplaces across the country to buy attires of their choice and other items relevant to the celebration. Not only urban dwellers, but rural people's spending has also shifted towards digital transactions. During Eid, such spending picks up, and banks remain major players.
Md. Mahiul Islam, deputy managing director and head of retail banking at BRAC Bank, in an interview with The Financial Express, explains the involvement of banks in the huge spending during Eid and what BRAC Bank offers its clients.
Question: How have Ramzan spending patterns evolved in recent years, particularly with the shift toward digital transactions?
Md Mahiul Islam: Ramzan has become an occasion of shopping spree, with a recent shift from cash-heavy transactions to digital-first spending. Customers are increasingly relying on cards, mobile apps, QR payments and integrated platforms for Iftar dining, grocery purchases, Eid fashion and travel bookings.
What is particularly notable is the evolution in mindset. Customers are no longer spending reactively - they are planning ahead, comparing offers, maximising cashback, and leveraging instalment facilities to manage liquidity. At BRAC Bank, we see this as a positive transformation that aligns with our strategy to build a smarter, more digitally empowered retail ecosystem.
Question: What exclusive offers and campaigns have you introduced this Ramzan, and how do they encourage smarter spending?
Md Mahiul Islam: We have designed comprehensive Ramzan and Eid campaigns this year, partnering with over 1,400 outlets nationwide. Cardholders can enjoy discounts up to 50 per cent across dining, lifestyle, jewellery, travel, electronics, furniture, grocery, parlour and e-commerce.
On the dining front, cardholders can enjoy Buy 1 Get 3 Free Iftar buffets at Six Seasons Hotel, with B1G1-2-3free deals extending across more than 50 premium hotels including Pan Pacific Sonargaon, InterContinental Dhaka, Radisson Blu Dhaka Water Garden,Sheraton Dhaka, Le Meridien Dhaka, The Westin Dhaka, Hotel Sarina Dhaka, Hotel Agrabad, Radisson Blu Chattogram Bay View, The Peninsula Chittagong, Crowne Plaza Dhaka Gulshan, Holiday Inn Dhaka, Hyatt Place Uttara, Crowne Plaza Dhaka Airport, Dhaka Regency Hotel & Resort, Lakeshore Grand, Hotel Bengal Blueberry, Best Western Plus Maple Leaf, Golden Tulip The Grandmark Grand Sylhet Hotel & Resort, and Rose View Hotel, Sylhet.
For Eid fashion, customers will enjoy up to 15 per cent online cashback at Aarong, Apex, Bata and 10 per cent In-store cashback at Le Reve, Bay Emporium, Ecstasy, Sailor, Vibrant and Yellow, 10-20 per cent discount at Artisan, Giordano Bangladesh, Country Boy, Astorion, Sara Lifestyle, Zaara Fashion Mall, Qrius, Orion Footwear, Mbrella, Red Origin, Bishwo Rang Kay Kraft, Sadakalo, Fit Elegance, Prem's Collections, Leatherex, B2 and Spark Gear, while jewellery shoppers can enjoy up to 30 percent off diamond jewellery and up to 50 per cent off on gold making charges at outlets including Amisheé, Amin Jewellers, Venus Jeweller, Diamond House, Dabir Gold & Diamond, and D Diamond.
We are also offering 0% interest installments for up to 24 months on electronics & Furniture at 35 outlets including Singer Bangladesh, Rangs eMart, Gadget & Gear, Walton, Transcom, Rangs Electronics, Ryans, Startech, Hatil, Nadia and Brothers Furniture- all designed to help customers optimise cash flow and stretch their purchasing power intelligently.
Question: How is BRAC Bank strengthening digital integration with MFS and wallet platforms to ensure seamless transactions during peak Eid demand?
Md Mahiul Islam: During Ramzan and Eid, transaction volumes increase significantly. To manage this surge, we have strengthened integration between our core banking systems and digital channels - cards, mobile banking and MFS platforms.
At BRAC Bank, we connect every account, every wallet, and every transaction into one continuous digital highway. Our focus is ensuring that customers experience their bank account and MFS wallet as part of a single, seamless financial ecosystem.
We have moved well beyond basic fund transfers. Through our bank's deep API-based integrations with bKash and other major MFS providers, customers can transfer money instantly between bank accounts and wallets - 24/7 and top-up their wallet directly from their bank account, and vice versa.
Our partnerships with MFS providers ensure seamless fund transfers, instant settlements, and uninterrupted interoperability, so customers can pay merchants digitally without friction, even at peak hours. Selected credit cardholders are enjoying a 50% waiver on wallet processing fees for bKash transactions this Ramzan. The objective is simple: zero disruption and maximum convenience during the most important spending season of the year.
Question: How are QR and merchant solutions supporting small businesses during the Eid rush?
Md Mahiul Islam: Eid is a high-volume trading window for small and medium merchants, and liquidity management becomes critical. Through our Bangla QR and Merchant Payment Gateway solutions, merchants can display a single BRAC Bank QR code to accept payments from any major MFS app or bank account. Funds settle directly into the merchant's bank account in near real-time - critical during Eid when cash flow velocity determines business success.
With our extensive reach through 1,117 Agent Banking outlets and 446 SME unit offices, we're positioned to onboard and support micro-entrepreneurs across both urban and rural markets during this peak trading season. Supporting merchants during Eid is not just about transactions; it is about empowering small businesses to grow sustainably.
Question: With remittance inflows increasing during Ramzan, how is the Bank ensuring instant and secure fund distribution, especially in rural areas?
Md Mahiul Islam: We consistently observe increased remittance inflows during Ramzan, as expatriate Bangladeshis send funds home for family support and Eid preparations. We have strengthened real-time remittance processing, and through our branches, sub-branches and agent banking outlets, recipients - including those in rural areas - can access their money conveniently and without delay.
Through partnerships with over 80 global exchange houses and API-based instant crediting technology, remittances are credited to accounts within seconds. The wage earners are also benefited from our partnership with bKash for instant remittances and cashout from our 330 ATMs. Our digital account opening through our eKYC has enabled expatriate Bangladeshis to open a Probashi account instantly and send money quickly.
Our Probashi Virtual Savings Account, paired with the Astha app, allows families to access funds immediately for Eid shopping, bill payments, and emergency expenses.
Remittance is a lifeline for millions of families, and ensuring speed, reliability and security in this flow is a responsibility we take very seriously.
Question: How do your savings and deposit products help customers prepare financially for festive expenses?
Md Mahiul Islam: Financial preparedness is as important as facilitating shopping during festivals. Our DPS products such as Flexi Deposit Premium Scheme, TARA Flexi DPS, Deposit Premium Scheme, and Fixed Deposit Schemes as Abiram Fixed Deposit, Freedom Fixed Deposit, Probashi Abiram, Probashi Fixed Deposit, Golden Fixed Deposit for Senior Citizens and Fixed Deposit General encourage customers to initiate savings. Digital opening of DPS and FDR through Astha App has further enhanced convenience of the customers.
With these savings facilities and digital services, we are seeing customers increasingly align their savings goals with seasonal expenses like Ramzan and Eid - reflecting a maturing retail culture that values planning over short-term borrowing.
Question: As transaction volumes spike during the festival, fraud attempts often rise. What measures are in place to safeguard customers?
Md Mahiul Islam: Cybersecurity is a top priority during peak seasons. We deploy real-time fraud monitoring powered by behavioural analytics and transaction pattern recognition, alongside multi-factor authentication, encryption protocols and strengthened API security frameworks. Through our Astha app, we've also built in-app security features including instant card blocking, transaction limits customization, and real-time transaction alerts.
We also run active customer awareness initiatives on phishing, social engineering and OTP fraud. Trust is the foundation of digital banking, and as transaction intensity increases, so does our vigilance.
Question: How do you envision the future of festive spending in Bangladesh?
Festive spending will become increasingly digital, data-driven and personalised. Customers will expect tailored offers, seamless integration between banks and lifestyle platforms, and instant rewards. We believe the future lies in ecosystem banking - where financial services are embedded within everyday experiences.
BRAC Bank is committed to leading this transformation through scale, technology and customer-centric design. Ramzan is not only a season of spiritual reflection; it is a reflection of economic dynamism, and our goal is to ensure every transaction is smarter, safer and more empowering for our customers and the wider economy. Ramzan is not only a season of spiritual reflection; it is a reflection of economic dynamism. Our goal is to ensure every transaction is smarter, safer and more empowering for our customers.
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