Bangladesh has embarked on an unprecedented journey towards building a cashless society, marked by a significant increase in card and cardless transactions, mobile banking, and digital payment systems such as QR Payment.
Zakat holds significant importance in Islam, serving not only as a means of wealth purification but also as a tool for its augmentation. It bestows sanctity upon one’s earnings and assets, with its rewards encompassing divine pleasure, liberation in the afterlife, and the promise of Jannat.
As the travel and tourism sector evolves with modern innovations, the sector has dipped its toes into the realm of digital payment as well. With Eid-Ul-Fitr around the corner,
“During Ramadan and Eid, numerous retailers and businesses roll out special promotions, discounts, and cashback incentives to entice customers,” explained Khurshed Alam, Deputy Managing Director at EBL.
Plastic money is not a new concept in Bangladesh but debit and credit card penetration in the country has been creeping along over the years due to a lack of awareness of their benefits coupled with a deep-seated fear of falling into a perceived debt trap.
An occasion like Eid holds particular significance for women, who often experience happiness from shopping, reveling in intricate accessories, luxurious cosmetics, elegant attire, and the perfect pair of shoes to complete their Eid ensemble.
Sales continue to surge for lifestyle products, home appliances, electronics, and groceries in anticipation of Eid-ul-Fitr, the biggest religious festival and the pinnacle of business activity in Bangladesh.
