Economic Reporter :
The remittance flow into the country has increased 3.56 times in the last 10 years, which can be viewed as a milestone on the way of upgrading Bangladesh a developed one. According to data of the Bangladesh Bank (BB), Bangladeshi expatriates sent US$ 1,31,859.04 million from fiscal 2008-09 to 2017-18, which was US$ 94,822.86 million higher than that of previous 10 years. Non-Resident Bangladeshis (NRBs) sent around US$ 37,036.18 million during fiscal 1998-99 to fiscal 2007-08.
“Due to different steps taken by the government and the central bank, the inflow of remittance in the last couple of years showed an upward trend,” BB Deputy Governor Abu Hena Mohammad Razee Hassan said. Moreover, he said, the number of Bangladeshi expatriates has been gradually increasing as the government has taken various steps to send skilled workers abroad.
He said the process of sending money into the country has become easier than before as the central bank and the government have provided all sorts of policy supports to the banks and exchange houses for giving smooth services to the remittance senders.
“Now Bangladeshi expatriates are getting mobile financial services to send remittance to home,” he added.
In the couple of months of fiscal 2016-17, he said, the inflow of remittance was falling due to various reasons, including the decline of currency rate against dollar, low oil price and the use of informal channels by the NRBs in sending money.
He said BB took all necessary steps to divert the inflow of remittance through legal channels and now NRBs feel more comfortable to send their earnings through legal channels.
As part of its move to plug informal channels, Razee Hassan said, the central bank has already put some mobile banking operators under its surveillance as it has identified some mobile accounts being used for sending remittance illegally.
The remittance flow into the country has increased 3.56 times in the last 10 years, which can be viewed as a milestone on the way of upgrading Bangladesh a developed one. According to data of the Bangladesh Bank (BB), Bangladeshi expatriates sent US$ 1,31,859.04 million from fiscal 2008-09 to 2017-18, which was US$ 94,822.86 million higher than that of previous 10 years. Non-Resident Bangladeshis (NRBs) sent around US$ 37,036.18 million during fiscal 1998-99 to fiscal 2007-08.
“Due to different steps taken by the government and the central bank, the inflow of remittance in the last couple of years showed an upward trend,” BB Deputy Governor Abu Hena Mohammad Razee Hassan said. Moreover, he said, the number of Bangladeshi expatriates has been gradually increasing as the government has taken various steps to send skilled workers abroad.
He said the process of sending money into the country has become easier than before as the central bank and the government have provided all sorts of policy supports to the banks and exchange houses for giving smooth services to the remittance senders.
“Now Bangladeshi expatriates are getting mobile financial services to send remittance to home,” he added.
In the couple of months of fiscal 2016-17, he said, the inflow of remittance was falling due to various reasons, including the decline of currency rate against dollar, low oil price and the use of informal channels by the NRBs in sending money.
He said BB took all necessary steps to divert the inflow of remittance through legal channels and now NRBs feel more comfortable to send their earnings through legal channels.
As part of its move to plug informal channels, Razee Hassan said, the central bank has already put some mobile banking operators under its surveillance as it has identified some mobile accounts being used for sending remittance illegally.
