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POST TIME: 7 December, 2017 09:58:05 PM / LAST MODIFIED: 7 December, 2017 09:58:35 PM
Remittance inflow increases by 10.76pc in 5 months

Remittance inflow increases by 10.76pc in 5 months

Expatriate Bangladeshis sent US$ 5,768.54 million remittances during the first five months of the current fiscal 2017-18, which is 10.76 per cent higher than the same period of the preceding year. According to Bangladesh Bank (BB), the country received $5,208.12 million remittances during July to November of 2016-17 financial year. “The flow of remittances into the country rebound in the current fiscal 2017-18 as BB has taken some measures to streamline the legal channel for encouraging Non Resident Bangladeshis (NRBs) to send home money,” BB Deputy Governor Abu Hena Mohammad Razee Hassan told the agency yesterday.

He said the recent flow of remittance indicates that it is gradually increasing and this trend is likely to continue in the upcoming months.

According to the BB data, the country received $1,214.75 million in November, $1162.77 million in October, $856.87 million in September, $1,418.58 million and $1,115.57 million in July, 2017.

But in 2016-17, the country received $951.37 million in November, $1,010.99 million in October, $1,056.64 million in September, $1,183.61 million in August and $1,005.51 million in July.

BB is trying to create awareness among the expatriates to send remittances through proper channels, said Hassan

In November, the state-owned six banks combine carried remittance of $269.67 million. Besides, local commercial banks became the channel of $920.19 million while $15 million was injected through nine foreign commercial banks. In addition, two specialized banks had the stake of remittance inflow of $9.89 million.

In November, Islami Bank Bangladesh Limited was leading the position of channeling remittance like before with $205.90 million followed by Agrani Bank $103.97 million, Sonali Bank $84.78 million and Janata Bank $69.53 million.