Remittance inflow posted a 65% year-on-year jump
The inflow was 82.46 percent higher than the same period last year, according to industry insiders.
Remittance inflows surged by around 78 percent year-on-year in the first 19 days of March as migrant workers sent more money home to relatives ahead of Eid-ul-Fitr, the largest religious occasion in the country.
Remittance inflow also broke single-month record in December
However, November’s inflow of $2.2 billion was 8.16% lower than the previous month
Taking selfies from the stands and sitting on the grassy pitch, thousands of migrant workers gathered in a Doha stadium to watch the opening match of the first World Cup in the Middle East.
Jamuna Bank Limited has received approval from the Bangladesh Bank to establish an exchange house in Spain.
The Bangladesh Financial Intelligence Unit (BFIU) yesterday froze 230 accounts of several mobile financial service providers as the accountholders were allegedly involved in hundi.
The exchange rate of dollar needs to be freed to make the garment business profitable at this crisis time, said a top leader of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today.
"Complacency has brought us to the current forex reserve situation,” said Salehuddin Ahmed, former governor of the Bangladesh Bank.
The government should come up with a clear strategy to stop fast depletion of the foreign currency reserves in a bid to save the country from a major crisis, said a noted economist today.
The external factors are not only responsible for Bangladesh’s present economic volatility, rather there are some issues which remained unattended for a long time such as low revenue collection, absence of quality public expenditure and the non-performing loans, said noted economist Debapriya Bhattacharya today.
Banks in Bangladesh today decided to withdraw service charge on remittances sent home by expatriate Bangladeshis with a view to gearing up the inflow.
Do we know which were the top remittance receiving banks in Bangladesh for the month?
Remittance declined further in October, intensifying the pressure on the government to manage its macroeconomy amid plummeting foreign exchange reserves.
