Saturday, 2nd December, 2023
Saturday, 2nd December, 2023

Remittance inflow increases by 41pc in 5 months

Expatriate Bangladeshis sent $10,894.10 million remittances in the first five months of the current fiscal 2020-21, which is around 41 percent higher than the amount of corresponding period of the preceding year, according to Bangladesh Bank data.

The country received $7,716.25 million remittances during the July-November period in 2019-20 fiscal year.

“The flow of remittances into the country shows upward trend in the current fiscal 2020-21 as the government has taken measures, including two percent cash incentive, to streamline the legal channel for encouraging non-resident Bangladeshis (NRBs) to send money to the country,” central bank’s spokesperson M Serajul Islam told BSS.

He said the recent flow of remittance indicates that it is gradually increasing and this trend is likely to continue in the upcoming months.

According to their data, the country received $2,598.21 million in July, $1,963.94 million in August, $2,151.05 million in September, $2,102.16 million in October and $2,078.74 million in the fiscal 2020-21.

But in 2019-20, the country got $1,597.69 million in July, $1,444.75 million in August, $1,472.16 million in September, $1,639.62 million in October and 1,555.23 million in November of the fiscal 2019-20.

In November this fiscal, six state-owned commercial banks-Agrani, Janata, Rupali, Sonali, Basic and BDBL-received $552.06 million while one state-owned specialized bank- Bangladesh Krishi Bank- received $30.35 million.

Of the state-owned banks, Agrani Bank received $220.16 million, Janata Bank $84.05 million, Rupali Bank $127.96 million, Sonali Bank $119.70 million and Basic Bank received $0.19 million.

Besides, the expatriates have sent $1,488.17 million through private commercial banks. On the other hand, the expatriates have sent $8.16 million through the foreign commercial banks.

:: Share ::