However, November’s inflow of $2.2 billion was 8.16% lower than the previous month
Migrant Bangladeshis sent home $2.39 billion in October
Many are sympathetic towards migrant workers for justifiable reasons.
After hovering around the $21-billion mark for the previous two fiscal years, total remittances sent home by Bangladesh’s migrant workers reached nearly $24 billion in the just concluded fiscal year of 2023-24, providing some breathing space amid the forex crunch.
Bangladesh received the highest remittance from the United Arab Emirates in the first 10 months of the outgoing fiscal year, well ahead of traditional powerhouses such as Saudi Arabia and the United States, central bank figures showed.
Economic, political failures major drivers behind the surge
Bangladesh's economy heavily depends on garment exports and remittances for its foreign exchange reserves, with limited diversification in agricultural products. Despite being an agrarian society, it imports key agriculture-related products, straining reserves.
Alarming revelation about undocumented workers in Libya raises questions
Suspicious transaction and activity reporting shot up 65 percent year-on-year to 14,106, with 91 percent of the reports filed by scheduled banks, according to the annual report of BFIU
However, November’s inflow of $2.2 billion was 8.16% lower than the previous month
Migrant Bangladeshis sent home $2.39 billion in October
Many are sympathetic towards migrant workers for justifiable reasons.
After hovering around the $21-billion mark for the previous two fiscal years, total remittances sent home by Bangladesh’s migrant workers reached nearly $24 billion in the just concluded fiscal year of 2023-24, providing some breathing space amid the forex crunch.
Bangladesh received the highest remittance from the United Arab Emirates in the first 10 months of the outgoing fiscal year, well ahead of traditional powerhouses such as Saudi Arabia and the United States, central bank figures showed.
Economic, political failures major drivers behind the surge
Bangladesh's economy heavily depends on garment exports and remittances for its foreign exchange reserves, with limited diversification in agricultural products. Despite being an agrarian society, it imports key agriculture-related products, straining reserves.
Alarming revelation about undocumented workers in Libya raises questions
Suspicious transaction and activity reporting shot up 65 percent year-on-year to 14,106, with 91 percent of the reports filed by scheduled banks, according to the annual report of BFIU
Migrant workers sent home $2.1 billion in January