Remittance rises 1.52%

Remittance slightly increased in the just concluded year after experiencing a falling trend in the last couple of months.

Expatriate Bangladeshis sent home $22.07 billion last year, up 1.52 per cent year-on-year, according to data from the Bangladesh Bank.

But, there is no scope to feel cheer as remittances has declined heavily in recent months, the central bank officials said.

Remittances narrowed 21 per cent year-on-year to $10.23 billion in the first six months of this fiscal year.

The hundi carter, an illegal cross boundary financial system to settle transaction, is mainly responsible for the downward trend of the remittances.

The carter was forced to stop its activities during the peak of the pandemic when different nations had imposed lockdown to contain the spread of the coronavirus.

But, the money launderers have started its activities once again in recent times keeping pace with the gradual opening of the global economy.