Remittance in Bangladesh crossed $30 billion for the first time and rose by a record $6.4 billion in the fiscal year 2024-25.
Remittance inflows crossed the $30 billion mark on Saturday, two days before the fiscal year is due to end, making it the highest receipts yet in Bangladesh’s history.
The concept of remittances is not new. Migrant labourers sending money home dates back to colonial times.
Bangladesh recorded a sharp rise in remittance inflows in May, as migrant workers sent more money home in the run-up to Eid-ul-Azha, which falls in early June.
Bangladeshi migrants sent home $2.75 billion in the month
Migrants sent home $2.6 billion in the first 29 days of April
SM Faruqi Hasan, founding president of the Ontario unit of the Awami League, is involved in the case
Remittances have become a much-anticipated relief for the economy reeling under macroeconomic stress, growing steadily since August last year and providing the interim government with a breather amid a rapid erosion of foreign exchange reserves.
Migrants sent home $2.52 billion in February
Time to rethink our fixed exchange rate policy.
It came down to $1.59 billion from last year August's $2.03 billion
Remittance inflow to Bangladesh fell 5.86 percent year-on-year to $1.97 billion in July, central bank data showed today.
Government must build an effective mechanism to support its policy
Foreigners working in Bangladesh sent home $137 million in 2022, World Bank data showed although analysts believe the exact figure would be much higher since many people from other nations are employed in the country without valid permits.
Remittance flows to Bangladesh rose to a three-month high in June as expatriates sent home $1.79 billion in the first 23 days of the month to help their families celebrate Eid-ul-Azha.
Thanks to higher inflow of remittances for Eid-ul-Azha
The allocation for subsidies in agriculture, food, and power will be raised considerably in the next budget, with an aim to ease inflationary pressure on people.
Islami Bank Bangladesh Ltd (IBBL) retained its top spot as the biggest remittance collector as it brought home the highest amount of funds sent home by migrant workers in January-March of 2023, official figures showed.
Migrant workers sent home $1.68 billion in October
