Expats remit $5.71b so far this fiscal
Friday, 22 June 2007
FE Report
Bangladesh's expatriates have remitted US$5.713 billion to the country during the first eleven and a half months of the current fiscal, which is $911.16 million higher than the same period of last fiscal.
Bangladesh Bank (BB) officials said that the inward remittance growth has increased due to higher migration of the Bangladeshi manpower to different countries.
Sources in the central bank said that the inward remittance has been gradually increasing over the last few months making the foreign exchange reserve of the country robust.
In the first two weeks of the current month alone, the expatriates remitted $246.05 million to Bangladesh, BB sources informed.
Out of the $246.05 million remittance during June 01-14 period, $85.76 million was sent through the four nationalised commercial banks (NCBs), $2.93 million through two specialised commercial banks (SCBs), $149.89 million by 30 private commercial banks (PCBs) and $7.47 million by foreign commercial banks (FCBs).
The highest amount, $45.56 million, was remitted through the state-owned Sonali Bank followed by $41.56 million through Islami Bank Bangladesh Ltd and $20.01 million through state-owned Agrani Bank.
Although the remittance in January was lower compared to December during the current fiscal 2006-07, the flow has picked up since February.
In January, Bangladeshis living and working abroad sent $462.55 million, in February $500.32 million, in March $537.29 million, in April $543.74 million and in May $561.92 million, the central bank sources added.
Bangladesh's expatriates have remitted US$5.713 billion to the country during the first eleven and a half months of the current fiscal, which is $911.16 million higher than the same period of last fiscal.
Bangladesh Bank (BB) officials said that the inward remittance growth has increased due to higher migration of the Bangladeshi manpower to different countries.
Sources in the central bank said that the inward remittance has been gradually increasing over the last few months making the foreign exchange reserve of the country robust.
In the first two weeks of the current month alone, the expatriates remitted $246.05 million to Bangladesh, BB sources informed.
Out of the $246.05 million remittance during June 01-14 period, $85.76 million was sent through the four nationalised commercial banks (NCBs), $2.93 million through two specialised commercial banks (SCBs), $149.89 million by 30 private commercial banks (PCBs) and $7.47 million by foreign commercial banks (FCBs).
The highest amount, $45.56 million, was remitted through the state-owned Sonali Bank followed by $41.56 million through Islami Bank Bangladesh Ltd and $20.01 million through state-owned Agrani Bank.
Although the remittance in January was lower compared to December during the current fiscal 2006-07, the flow has picked up since February.
In January, Bangladeshis living and working abroad sent $462.55 million, in February $500.32 million, in March $537.29 million, in April $543.74 million and in May $561.92 million, the central bank sources added.