Consumers choose convenience over cash: Trust Bank PLC

Ahsan Zaman Chowdhury
Managing Director & CEO
Trust Bank PLC.

Bangladesh is moving toward a permanent digital-first economy, with QR payments reaching small vendors and EMI facilities replacing cash for large purchases. While cash persists, the security and convenience of digital banking are fundamentally reshaping consumer habits during festivals and beyond.

As Bangladesh prepares for Eid-ul-Adha, one of the country’s largest economic seasons, banks are anticipating a sharp rise in consumer spending, digital transactions, and remittance inflows. In an interview with The Daily Star, Ahsan Zaman Chowdhury, Managing Director of Trust Bank PLC shared insights on changing consumer habits, the rise of digital payments, and how banks are preparing for the festive rush.

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

Ahsan Zaman Chowdhury (AZC): We expect overall spending to remain strong and continue on an upward trajectory. Eid-ul-Adha is not only a religious festival it is also one of the biggest economic occasions in Bangladesh. From cattle markets to retail shopping and household purchases, economic activity increases significantly during this period.

Despite inflationary pressures, consumer confidence appears resilient. We are also seeing a major shift in purchasing behaviour, particularly among younger consumers, who are increasingly browsing and shopping through social media platforms and online marketplaces.

TDS: What trends are you observing in Eid related digital transactions?

AZC: Cash is still dominant in traditional cattle markets, but the digital transition is becoming more visible every year. Organised cattle farms and urban haats are gradually accepting card payments and mobile-based transactions. The introduction of Bangla QR is also helping create awareness among consumers and merchants. Card usage is growing rapidly in lifestyle and electronics, with high demand for EMI-based appliance purchases during the summer and Eid season. Simultaneously, online shopping continues to surge, driven by bank incentives such as discounts, cashback, and BOGO promotions.

TDS: Is Bangladesh moving toward a more cashless Eid economy?

AZC: Definitely. However, the transition will take time. Consumer behaviour is changing rapidly because people now value convenience, speed, and security more than ever before. The growth of mobile banking apps, QR-based payments, and digital financial services, combined with Bangladesh Bank’s vision of a “Cashless Bangladesh,” is accelerating this shift.

TDS: What financial safety tips would you give customers this Eid?

AZC: A few simple precautions can make a big difference:

Never share your PIN, OTP, or sensitive banking information with anyone. 

 Avoid clicking suspicious links or responding to fake “Eid offers” and prize notifications. 

 Regularly check transaction history and account statements. 

 Keep SMS and email alerts activated and monitor them carefully.

Avoid using untrusted/unauthorised apps.