News Desk :
As much as 13 percent of Bangladeshis who went abroad for work after taking loans by mortgaging properties between 2015 and 2018 have lost the assets after failing to repay the debts, according to a study by the national statistical agency, reports bdnews24.com
The Bangladesh Bureau of Statistics conducted its first-ever Immigration Expenditure Survey in February and March this year through random sampling of the expatriates by taking information from their families.
The BBS uploaded the report on its website recently, but decided not to publish it at an event considering the coronavirus outbreak, said Kabir Uddin Ahmed, who directs the bureau’s industry and labour wing.
It collected the information about 8,000 families of the expatriates from the Bureau of Manpower, Employment and Training or BMET for the survey based on a two-stage cluster sampling method.
The data were collected through personal interviews. As many as 2.73 million Bangladeshis travelled to other countries from 2015 to 2018, with 85 percent of them male, according to the survey.
The study reveals that almost 12.5 percent of male expatriates who resorted to loans to pay the recruitment and travel costs have lost possession of their mortgaged properties due to their failure to repay. And for women, the figure rises to 16 percent, making the average 12.7 percent.
The study found that 78 percent of those who travelled abroad in this period had resorted to loans from relatives, NGOs or lenders. More men, 81 percent, than women, 56 percent, took the loans .
As much as 41 percent of the workers took loans from friends and relatives, 28 percent received finances from the family, 20 percent borrowed from NGOs while 15 percent borrowed from banks and other lenders.
It found that 46.5 percent of these expatriates have no insurance. Only 38.7 percent men and 30.3 percent women have insurance. Their chief destination was Saudi Arabia. The travel expense for those who went to Singapore was the highest.
The cost of immigration does not match with that specified by the BMET. Each expatriate has to spend two and a half times more than that set by the government and it took 18 months for them to earn the money – 5.6 months for the female workers and 19 months for the male ones.
As much as 13 percent of Bangladeshis who went abroad for work after taking loans by mortgaging properties between 2015 and 2018 have lost the assets after failing to repay the debts, according to a study by the national statistical agency, reports bdnews24.com
The Bangladesh Bureau of Statistics conducted its first-ever Immigration Expenditure Survey in February and March this year through random sampling of the expatriates by taking information from their families.
The BBS uploaded the report on its website recently, but decided not to publish it at an event considering the coronavirus outbreak, said Kabir Uddin Ahmed, who directs the bureau’s industry and labour wing.
It collected the information about 8,000 families of the expatriates from the Bureau of Manpower, Employment and Training or BMET for the survey based on a two-stage cluster sampling method.
The data were collected through personal interviews. As many as 2.73 million Bangladeshis travelled to other countries from 2015 to 2018, with 85 percent of them male, according to the survey.
The study reveals that almost 12.5 percent of male expatriates who resorted to loans to pay the recruitment and travel costs have lost possession of their mortgaged properties due to their failure to repay. And for women, the figure rises to 16 percent, making the average 12.7 percent.
The study found that 78 percent of those who travelled abroad in this period had resorted to loans from relatives, NGOs or lenders. More men, 81 percent, than women, 56 percent, took the loans .
As much as 41 percent of the workers took loans from friends and relatives, 28 percent received finances from the family, 20 percent borrowed from NGOs while 15 percent borrowed from banks and other lenders.
It found that 46.5 percent of these expatriates have no insurance. Only 38.7 percent men and 30.3 percent women have insurance. Their chief destination was Saudi Arabia. The travel expense for those who went to Singapore was the highest.
The cost of immigration does not match with that specified by the BMET. Each expatriate has to spend two and a half times more than that set by the government and it took 18 months for them to earn the money – 5.6 months for the female workers and 19 months for the male ones.
