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Remittance inflow decreases 16 pc in 11 months

26 June 2022


Reza Mahmud :
Country's remittance flow fell by 16 percent in the first 11 months of the current fiscal year compared with the corresponding period of the immediate past fiscal year of 2020-2021, central bank sources said.
Statistics Department of the Bangladesh Bank showed that the remittance flow was 19194.41 million US Dollar from July to May in the 2021-2022 fiscal year. It was 3643 million US dollar less than the previous fiscal year 2020-2021 which was USD 22,837.
As per the statistics it was 16 percent less than the previous year's remittance figure. But  the central bank thinks the current remittance flow is normal in view of the corona attack.
When contacted, Md Serajul Islam, Executive Director and Spokesman of Bangladesh Bank told The New Nation on Saturday, "It is not unusual to falla little sum of remittance in the current fiscal year as the previous years' remittances were influenced by the Covid-19 pandemic."
The BB Executive Director said, "Migrant workers of our country have sent more taka as remittance to their families to meet their needs to face the price hike of the articles."
He said also that many of the migrant workers left their jobs and returned home with all of their savings there.
Meanwhile, the Bangladesh Bank spokesman said most of the taka sent by the migrants of Bangladesh came to the country through legal way through the banking channels increasing the remittance inflows as the flights were suspended across the world due to the pandemic.
The central bank spokesman said also that after easing covid situation, many of the migrant workers started their new jobs with renewing their Akama or work permits.
Apart from these, experts said that the family expenditure abroad also hiked due to the ongoing Russia-Ukraine war.
Besides, many Diasporas used to send money beyond banking channels as the international flights resumed after easing
Remittance inflows
Contd from page 1
 the pandemic keeping real picture of the remittance inflow out of account, as per experts' views.
Serajul Islam said that the remittance inflows in the current months are usual and nothing is to be anxious.
He hoped that the remittance earnings will be increased day by day as the employment in overseas is increasing constantly after the host countries open their labour markets for Bangladeshi manpower.
When contacted, Imran Ahmed, Minister of the ministry of Expatriates' Welfare and Employment Overseas, told The New Nation, "We are optimistic about expanding labour markets abroad for our manpower constantly."
The Minister said, "Beside the traditional labour markets in the Middle eastern countries and Malaysia, many new horizons are also opening their doors for Bangladeshi workers like east European and Central Asian countries."
Bangladesh Bank data showed that the remittance flow was USD 1885 million in May, this year while it was USD 2171 million in the same months last year.
The amount was USD 2010 million in April this year which was USD 2067 million, a little bit high in the same month last year.
The remittance was USD 1859 million in March, 2022, comparatively less than the USD 1910 million of the same month of the previous year.
In February, 2022, the remittance was USD 1494 million which also was less by USD 286 million than the USD 1780 million in the same month of the previous year.
Similarly remittance inflows of almost all months of the current fiscal year found less than the previous year's earnings, as per the central bank's data. monitored by Flood Forecasting and Warning Centre (FFWC) have marked rise while 78 stations recorded fall.
 Among the 109 monitored stations, five river stations have been registered steady while water levels at 10 stations are flowing above the danger level, a bulletin issued by the FFWC said here today.
 The Brahmaputra at Hatia, the Surma at Kanaighat and Sylhet, the Kushiyara at Amalshid, Sheola and Markuli, the Old Surma at Derai, the Baulai at Khaliajuri, the Someswari at Kalmakanda and the Titas at Brahmanbaria are flowing above danger level by 15cm, 83cm, 02cm, 179cm, 64cm, 04cm, 41cm, 26cm, 41cm and 29cm respectively.
 Significant rainfall was recorded at some stations in different districts during the last 24 hours ending at 8.99 am today, the FFWC bulletin added.
According to the numerical weather forecast of meteorological department, except Teesta basin, heavy to very heavy rainfall inside Bangladesh and different upstream Indian regions is unlikely in the next 48 hours.
The Brahmaputa-Jamuna, Ganges-Padma, Dharala, Dudhkumar and all the major river of the north-eastern region of the country may continue falling in the next 48 hours, the FFWC bulletin said.
It also forecasted that there is a chance of medium to heavy rainfall in the sub-Himalayan West-Bengal (Jalpaiguri, Sikkim). As a result, the water level in Teesta river may remain close to danger level.

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