Dhaka, May 9 -- Once regarded as an exclusive financial tool for the elite and high-net-worth travelers, credit cards have rapidly transitioned into an essential daily companion for the middle-class and younger generation in Bangladesh.

From grocery shopping and hospital bills to online purchases and utility payments, the credit card is increasingly being viewed as a "digital alternative to cash" within the country's burgeoning digital economy.

In response to this growing demand, Bangladesh Bank has significantly overhauled credit card regulations. Under the new policy, the borrowing limit for credit cards has been doubled:

Unsecured Loans: The limit for loans without collateral has been increased to Tk 20 lakh from the previous Tk 10 ...