BD gets $1.0b remittance in 12 days

The country has received US$1.066 billion as remittance in first twelve days of this month, according to a release of the Ministry of Finance.

From July 1 to November 12 of the current fiscal year (FY), 2020-21, a total of $9.891 billion came as remittance, up by 43.42 per cent from $6.897 billion in the same period of last fiscal.

Finance Minister A H M Mustafa Kamal said the timely decision of providing 2.0 per cent incentive to remittance senders has contributed to the upward trend of remittance inflow.

He noted that the world is facing major financial crisis due to the unexpected hit of the Covid-19 pandemic.

"Our remittance senders have come forward as key workers by sending their hard-earned money to move the economy forward."

He also said the government in the budget for FY 2019-20 announced 2.0 per cent incentive for remittance senders for the first time to encourage use of legal channel in sending money home.

"Following that the remittance inflow shot up, which many people suggested won't sustain."

Mr Kamal opined that the upward trend of remittance inflow has been continuing since the announcement of incentive, and the projection of those critics is not true.

"It is now proved that our decision was right," he added.

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