Experts’ opinions sought to know causes of falling remittances

The Finance Minister AHM Mustafa Kamal today sought innovative suggestions from economists and sector experts to identify the reasons why inward remittance flow is not growing to the expected level, despite massive manpower exports and many students staying back and working abroad.

He said the government will accept suggestions and advice to reform policy and increase desired remittance for the country.

Kamal said this while speaking as the chief guest in the inaugural session of "Bangladesh's Public Financial Reforms Initiatives" in collaboration with the World Bank held in a hotel in Dhaka today.

Abdoulaye Seck, country director for Bangladesh and Bhutan of World Bank, Hisham Waly, practice manager, governance global practice-South Asia Reason, World Bank, Dr Md Khairuzzaman Mozumder, secretary of finance, among others, spoke at the function. The finance minister said the government is thinking of making structural changes to enhance inward remittance flow in the country.

He also mentioned that the expatriates were sending USD 2.0 billion and above remittances in the country in a month, if the flow continues, there would not be a foreign exchange crisis.

"But why it is falling despite manpower export and increase in students going abroad, we would like to know," he said.