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Bangladeshi nationals spent Tk 4.56 billion through credit cards abroad in May – a 9.89 per cent fall compared to April, but the spending in the US and India has increased.
Data published by the Bangladesh Bank on Monday showed that Bangladeshis make the most credit card transactions in India and the US, as per bdnews24.com reports.
In India, credit card transactions by Bangladeshis in May amounted to Tk 970 million, compared to Tk 760 million in April.
In the US, transactions worth Tk 750 million were made in May, while they were Tk 660 million in April.
The central bank report said Bangladeshis predominantly use Visa, MasterCard, AmEx, and UnionPay among credit cards.
Bangladesh Bank officials said Bangladeshis travel to India annually for medical treatment and tourism.
As a result, their use of credit cards in the neighbouring country has increased significantly.
Data showed a rise in credit card use abroad has increased significantly since a foreign exchange crisis struck in mid-2022.
Bangladeshi citizens can spend up to $12,000 abroad per year. They can spend this amount via cards or carry cash when travelling abroad.
TRAVEL STATISTICS
According to statistics from the Bureau of Consular Affairs of the US Department of State, the US issued 225,715 non-immigrant visas to Bangladeshis over the 10-year period from 2013 to 2022.
The embassy in Dhaka issued 114,460 immigrant visas. These include 44,674 non-immigrant visas for education, travel, and business, and 14,580 immigrant visas for permanent residency.
Over 1 million visas for Bangladeshis were issued by the Indian High Commission in Bangladesh in 2022 for various purposes, including medical treatment and tourism, according to the Immigration and Passport Department.