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Remittance inflow increases by 17.51pc in 10 months

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15th-May-2018       
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Economic Reporter :
Expatriate Bangladeshis sent US$12,088.18 million remittance in the first 10 months of the current fiscal 2017-18, which is 17.51 percent higher than the amount received in the corresponding period of the preceding fiscal.
According to Bangladesh Bank (BB), the country received $10,287.23 million remittance during July-April period of 2016-17 financial year.
"The flow of remittances into the country rebounded in the current fiscal 2017-18 as BB took some measures to streamline the legal channel for encouraging the Non-Resident Bangladeshis (NRBs) to send money," BB Deputy Governor Abu Hena Mohammad Razee Hassan told.
Earlier, he said, some NRBs used informal channels, including mobile banking, for sending their money home. In the recent time, the use of informal channel has been reduced due to increasing the monitoring activities of the central bank and law enforces agencies, he added.
He said mobile financial service providers, including bKash, are also playing a vital role to stop the illegal channel.
The BB deputy governor hoped that the inflow of remittance will be increased in this month as the Eid-ul-Fitr, the biggest festival of Muslim, is coming.
According to the BB data, the country received $1,327.18 million in April, $1,299.77 million in March, $1,149.08 million in February, $1,379.79 million in January, $1,163.82 million in December, $1,214.75 million in November, $1,162.77 million in October, $856.87 million in September, $1,418.58 million in August and $1,115.57 million in July in 2017-18 fiscal.
But in 2016-17, the country received $1,092.64 million in April, $1,077.52 million in March, $940.75 million in February, $1,009.47 million in January, $958.73 million in December, $951.37 million in November, $1,010.99 million in October, $1,056.64 million in September, $1,183.61 million in August and $1,005.51 million in July.

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