Remittance inflow in the first nine months rose by 17.04 percent to that of the corresponding period of the previous fiscal. As per Bangladesh Bank (BB) data, expatriate Bangladesh has sent US $ 10,761 29 million through various channels during the July-March period of FY18. The country received $9.194.59 million remittance during the same period in the preceding fiscal. 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, said a BB Deputy Governor. Farther, he said, some NRBS used informal channel including mobile banking for sending their money home. In the recent time, the use of inform channel has been reduced due no increasing the monitoring activities of the central bank and law in force agencies over the illegal channel, 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 the upcoming months as the Eid-ul-Fitr, the biggest festival of Muslim is coming.
Why did the inflow of remittances rebound in the current fiscal year 2017-18?
dsuc.created: 2 years ago |
dsuc.updated: 2 years ago
dsuc.updated: 2 years ago
Due to the central bank's supervision and law enforcement agencies monitoring over the sending remittances through illegal channels, the inflow of remittances had been rebounded in the fiscal year 2017-18.
