Finance
Bangladesh Strong remittance flow before Eid
Dhaka, June 12, 2023 : In view of the holy Eid-ul-Azha, the pace of expatriate income (remittance) has increased in June.
In the first 9 days of this month (June), remittances came in the amount of 57 million 56 million 80 thousand dollars. Its amount in Bangladeshi currency is 6 thousand 245 crores (108 taka 50 paisa per dollar).
Bangladesh Bank's latest report says that in the first 9 days of this month, expatriate income of 57.56 million 80 thousand dollars or 6 thousand 245 crore rupees has arrived in the country. About 64 million dollars or 694 million taka are coming every day in the month. If the trend of remittances continues, it will reach close to two billion (over $190 million) by the end of the month. Before that, in the entire period of last May, 169 million 16 million 30 thousand dollars came. Accordingly, the flow of remittances has been good so far this month.
Officials of the relevant departments of the central bank say that since Eid is coming, more remittances will come in the rest of the month. According to them, expatriates will send remittances to their families for sacrifices on Eid al-Adha and for shopping at the same time. If this trend continues, it will be close to two billion dollars at the end of the month.
In the first 9 days of June, 11.45 million 60 thousand dollars came through state-owned banks, 3 million 15 million 60 thousand US dollars through specialized banks. 42 crore 74 lakh 50 thousand dollars through private banks. Besides, remittances of 21 million US dollars have come through foreign banks.
The number of banks which have not received any remittance during the period under discussion stands at 9. These include the state-owned Bangladesh Development Bank or BDBL, Rajshahi Krishi Unanya Bank or RAKAB, private sector Bengal Commercial Bank Limited, Community Bank Limited, Citizens Bank Plc.
And foreign banks include - Habib Bank Limited, National Bank of Pakistan, State Bank of India, Uri Bank and City Bank NA.
