Remittance inflow increases by 12.17pc in 4 months

Publish: 1:31 PM, November 9, 2018 | Update: 1:31:PM, November 9, 2018

DHAKA  – Expatriate Bangladeshis sent US$ 5,108 million remittances during the first four months of the current fiscal 2018-19, which is apparent 12.17 per cent higher than the same period of the preceding year, a Bangladesh Bank (BB) data said today.

The country received US$4,553.79 million remittances during July to October in 2017-18 financial year, the data added.

“The flow of remittances into the country shows upward trend in the current fiscal 2018-19 as BB has taken measures to streamline the legal channel for encouraging Non Resident Bangladeshis (NRBs) to send money to the country,” BB Chief Spokesperson M Serajul Islam told BSS.

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 US$1,239.11 million in October, US$1,139.66 million in September, US$1,411.05 million in August and US$1,318.18 million in July, 2018.

But in 2017-18, the country got US$1,162.77 million in October, US$856.87 million in September, US$1,418.58 million in August and US$1,115.57 million in July.

In October this fiscal, six state-owned commercial banks- Agrani, Janata, Rupali, Sonali, Basic and BDBL- received US$299.36 million while one state- owned specialised bank- Bangladesh Krishi Bank- received US$14.57 million.

Of the state-owned banks, Agrani Bank received US$122.56 million, Janata Bank US$72.08 million, Rupali Bank US$16.87 million, Sonali Bank US$87.68 million and Basic Bank received US$0.17 million.

Besides, the expatriates have sent US$913.30 million through private commercial banks. Among the private commercial banks, Islami Bank Bangladesh Limited (IBBL) received the highest amount of US$224.50 million as Dutch- Bangla Bank (DBBL) received US$93.51 million.

On the other hand, the expatriates have sent US$11.88 million through the foreign commercial banks.