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July-Oct remittance up by 12.17pc

10 Nov,2018

BDchronicle:

Expatriate Bangladeshis sent US$5,108 million remittances during the first four months of the current fiscal 2018-19 (FY19), which is 12.17 per cent higher than that of the previous fiscal, a Bangladesh Bank (BB) data said today.

The country received $4,553.79 million remittances during July to October in the fiscal year 2017-18 (FY18), 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 is likely to continue in the coming months.

According to the BB data, the country received $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 $122.56 million, Janata Bank $72.08 million, Rupali Bank $16.87 million, Sonali Bank $87.68 million and Basic Bank received $0.17 million.

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

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

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