Remittance inflow increases by 16.59pc in first 3 months
Published: 11:59 PM, 3 October 2019
Expatriate Bangladeshis sent US$ 4,510.86 million remittances during the first three months of the current fiscal 2019-20, which is apparently 16.59 per cent higher than the same period of the preceding year, according to a Bangladesh Bank (BB) data.
The country received $3,868.89 million remittances during July to September in 2018-19 financial year, the data added.
According to the BB data, the country received $1,468.42 million in September, $1,444.75 million in August and $1,597.69 million in July of the fiscal 2019-20.
But in 2018-19, the country got $1,139.66 million in September, $1,411.05 million in August and $1,318.18 million in July.
In September this fiscal, six state-owned commercial banks – Agrani, Janata, Rupali, Sonali, Basic and BDBL – received $339.94 million while one state- owned specialised bank- Bangladesh Krishi Bank- received $26.50 million.
Of the state-owned banks, Agrani Bank received $146.19 million, Janata Bank $80.40 million, Rupali Bank $19.76 million, Sonali Bank $93.51 million and Basic Bank received $0.08 million.
Besides, the expatriates have sent $1,092.89 million through private commercial banks. Among the private commercial banks, Islami Bank Bangladesh Limited (IBBL) received the highest amount of $306.07 million where as Dutch- Bangla Bank (DBBL) received $132.71 million.
On the other hand, the expatriates have sent $9.09 million through the foreign commercial banks.
For removing the burden of increased expenses in sending remittances and encouraging bringing in remittance through legal channels, the government has already started giving 2 percent cash incentive on money remitted by expatriate Bangladeshis
“In the national budget for the fiscal 2019-20, the government announced 2 percent cash incentive on remittance. But, the implementation of the initiative took time due to developing a system,” said Finance Minister AHM Mustafa Kamal on Wednesday after a meeting at Cabinet Division in the city.
He hoped that the inflow of remittance will be increased by $18 billion to $20 billion in this fiscal.
- BSMRUST reduces admission fee finally
- 44 arrested in anti-narcotic drive
- 10min charge 12 hrs backup!
- Bangladesh reach final by beating Nepal
- Kenya building collapse: Several killed, more feared trapped
- 24 hours in onion field to prevent theft
- Two killed as truck hit autorickshaw
- Aziz Khan named 40th richest in Singapore
- Schoolboy killed in Rangpur road crash
- Peon killed after being hit by motorcycle
- Dry weather likely with partly cloudy sky
- Veteran actor Khalil’s 5th death anniv today
- Indian rape victim dies after being set ablaze
- Ways to prevent tooth decay
- 4 fruits to reduce age
- Petrobangla building fire under control
- Mickey Arthur appointed as Sri Lankan head coach
- Fire at Petrobangla building in Karwan Bazar
- Suu Kyi flies to Hague next week
- Three of a family found dead in Barishal
- Two launches collide in Meghna; 1 killed, missing 15
- Man City to face Man United today
- Merkel visits Auschwitz for first time
- No change in post of AL president in next council: Quader
- Mithila-Srijit’s honeymoon to Switzerland
- Rebels kill 17 in eastern Congo
- Shakhawat, Rokeya win silver in SAG weightlifting
- Mithila tie knot with Srijit
- Myanmar Navy handed over 17 Bangladeshi fishermen
- Saudi Aramco raises $25.6 billion in biggest-ever IPO
- All News »
- ‘Bangla’ recognized as 2nd official language in London
- Srijit-Mithila’s wedding today
- Physician couple in Dr Baker’s place, serving poor people
- VP Nur’s phone talks leaked
- Get about newly elected Metropolitan AL leaders
- 2 Jabale Nur drivers among 3 get life-term
- Messi bags Ballon d’Or for record sixth time
- PM opens AL’s Dhaka City units council
- ‘Bangabandhu Express’ to run from victory day
- BD scientist photo likely in UK currency soon
- UN chief says humanity’s ‘war against nature’ must stop
- Siam’s new look in ‘Ittefaq’
- Sunny Leone’s ‘Hello G’
- Bridge attacker jailed for terror crimes: UK police
- ‘Daughter in admissions scandal’ Olivia returns to YouTube
- COP25 island nation in `fight to death`
- Trump calls Canada`s Trudeau `two-faced`
- ‘Hotath Bristi’ actress June Malia gets married
- Flower blooms with Azan
- Kushtia double murder case: 4 to die, 7 get life term
- Shakib elected Player of the Year even after ban
- Euro-2020: Match schedule
- Salman Khan sunken in Afghan beauty
- Mithila tie knot with Srijit
- Barca, Man United, Juventus to play tonight
- Ali Dacoit killed in Islampur gunfight
- Biman ex-director and DGM detained
- 3 of same family incl couple killed in Tangail road crash
- Former England captain Bob Willis dies
- Nepal`s mass animal slaughter begins despite outcry