Credit Card ard usage in Bangladesh is a relatively recent development. However, with the evolution of modern banking systems, the demand for internationally branded credit cards has significantly increased. In this context, American Express (commonly known as Amex) has established a strong presence in the country’s economy and banking sector. Let’s explore how American Express entered the Bangladeshi market and earned the trust of its customers.
American Express Card Business in Bangladesh
American Express doesn't operate directly in Bangladesh. Instead, its services are facilitated through a franchise partnership with a local bank. Even though the brand's journey in Bangladesh began not long ago, it has made significant progress. In 2008, an American Express delegation visited the country to conduct market research and assess the viability of doing business. They approached several local banks with proposals to launch Amex card services. However, due to relatively higher processing fees, none of the banks accepted the offer. As a result, the Amex team returned disappointed, and many assumed the brand would not return to Bangladesh any time soon.
While other banks saw limited potential, one visionary entrepreneur and banker identified a promising opportunity. That institution was The City Bank Ltd, which was later renamed City Bank PLC. At the time, the bank’s chairman was Mr. Aziz Al Kaiser.
Although City Bank had not received a formal proposal from American Express, Mr. Kaiser saw the market potential. Unlike other banks that waited, City Bank took the initiative to reach out to American Express. This resulted in a successful partnership. On November 9, 2009, City Bank officially launched American Express credit cards in Bangladesh as the sole issuing bank. This partnership marked a key milestone in the private banking sector of the country.
Why American Express Became a Game-Changer
Since its launch, American Express has quickly become one of the most recognized credit card brands in Bangladesh. Through its strategic partnership with City Bank, Amex introduced groundbreaking changes in the country’s digital payment ecosystem.
City Bank initially introduced three Amex credit cards: Green, Blue, and Gold. Later, the Platinum card was added to the portfolio. Today, City Bank also issues a range of American Express branded products, including CityMax debit cards, prepaid cards, and virtual debit and prepaid cards.
In collaboration with the popular retail chain Agora and the Dhaka University , City Bank launched co-branded Amex credit cards that offer exclusive benefits to specific customer groups.
For women, City Bank introduced the City Alo American Express Card, designed with exclusive privileges and offers tailored to female customers.
In addition, City Bank launched the country’s first American Express branded metal credit card, which was officially introduced earlier this year.
Considering that the majority of Bangladesh’s population is Muslim and that interest-based transactions are prohibited in Islamic finance, City Bank introduced Shariah-compliant Blue and Gold American Express credit cards under its Islamic banking window, City Islamic. Special Amex debit cards are also issued for Islamic banking account holders.
With these initiatives, City Bank currently holds approximately 35% of the country’s credit card market.
Key Innovations by City Bank and American Express
City Bank and Amex have pioneered several major services that have transformed the local credit card landscape. These include:
Launching the first-ever American Express airport lounge in Bangladesh, providing premium services to cardholders
Introducing check issuance against available credit limits for improved liquidity
Expanding EMI (Equated Monthly Installment) options from 3 to 36 months with 0% interest
Offering FlexiLoan, a service that allows eligible customers to convert credit limits into instant loans simply by calling customer service
Introducing premium services such as Priority Pass, international roaming subscription, and more, which have reinforced American Express’s position as a premium brand in the market
Nationwide Infrastructure of City Bank
City Bank supports American Express services across the country through a wide-reaching network that includes:
- 134 branches
- 52 sub-branches
- 485 agent banking points
- 458 ATMs
- 7 priority centers
- 7 dedicated American Express service centers
- 3 airport lounges
- Over 34,000 POS machines
- 20,117 merchant partners
Currently Available American Express Cards in Bangladesh
City Bank American Express® Platinum Reserve Credit Card
City Bank American Express® Platinum Card
City Bank American Express® Gold Card
City Bank American Express® Blue Card
City Bank American Express® Corporate Card
City Bank American Express® Prepaid Card
CityMax American Express® Debit Card
Co-branded American Express® Cards (e.g., DU, Agora)
Challenges and Future Prospects
Despite its growing popularity, American Express still faces limitations in Bangladesh compared to Visa and Mastercard. Many merchants, especially smaller or online ones, still do not accept Amex. Additionally, some Amex cards carry relatively higher annual fees, which may discourage some customers.
However, American Express remains a globally recognized premium brand and continues to maintain that image in Bangladesh. The target customers for Amex include high-income individuals, such as corporate executives, expatriates, frequent travelers, and high-spending consumers. With the rising trend in global travel, online subscriptions, and international purchases, the demand for Amex is increasing. By introducing multi-currency cards and personalized reward programs, the brand has the potential to further strengthen its presence in Bangladesh.
The combination of American Express’s global service standards and City Bank’s local infrastructure and customer-centric innovation continues to support growth and development in this segment.
Key Limitations to Address
Despite the strong acquiring network and variety of services, there are a few critical challenges that still affect the user experience in Bangladesh. For example, many merchants remain reluctant to accept Amex due to the higher MDR (Merchant Discount Rate) fees. Also, Amex cards typically function only through City Bank’s POS terminals, whereas Visa and Mastercard can be used across multiple banks’ POS systems. As a result, if a technical issue arises with the City Bank or Amex POS terminal, customers may find themselves without an immediate alternative payment option. This exclusive infrastructure, along with limited technological support, poses a major challenge for wider Amex card usage in Bangladesh.
To overcome these limitations, there is a need for greater collaboration between City Bank and American Express. Expanding the technology ecosystem, increasing merchant coverage, and developing better support channels will be critical.
So, American Express has emerged as a transformative force in Bangladesh’s credit card and digital finance sector. This success has been made possible by City Bank’s visionary leadership and innovative approach. Without a doubt, the Amex journey in Bangladesh represents a success story with significant potential for future growth.
Through its exclusive partnership with City Bank, American Express has established itself as a premium and trusted brand in the country. With continued improvements in acceptance networks, fee structures, and digital support systems, Amex is well positioned to take on an even greater role in shaping the future of credit card usage in Bangladesh.
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