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Remittance inflow up by $9.28cr in Aug

Remittance inflow up by $9.28cr in Aug

Bangladeshi expatriates sent home US$141.10 crore remittance in August, as the government had taken realistic steps to increase the flow of remittance.

The remittance inflow in August increased by $9.28 crore than the amount received in the previous month. In July, Bangladeshi expatriates sent home $131.81 crore remittance, local media reports mentioning Bangladesh Bank data.

Officials concerned said that the remittance inflow increased due to the government’s positive, realistic steps, including facilitating the banking channel for inward remittance and preventing hundi (smuggling) trade.

The data also shows that expatriate Bangladeshis used more private banking channels for sending $102.77 crore remittance during the period.

Six state-owned commercial banks - Agrani Bank, Janata Bank, Rupali Bank, Sonali Bank, Basic Bank and BDBL – received $ 35.72 crore, while one state-owned specialised bank, Bangladesh Krishi Bank, received $1.53 crore remittance.

The expatriates sent $1 crore through foreign commercial banks.

Among the private commercial banks, Islami Bank Bangladesh Limited received $29 crore, the highest amount, and state-run Agrani Bank Limited received $ 15crore.

According to the Bangladesh Bank data, Bangladesh received the highest amount of remittance in 2014-15 fiscal. During the period, the Bangladeshi expatriates sent $1,531.69 crore.

In the corresponding year 2017-18, expatriate Bangladeshis sent $1,498 crore in remittance to the country’s different banks.