Private banks end dominance of NCBs in handling expats' money
Friday, 3 August 2007
Sarwar Zahan
Private sector banks handled more than 57 per cent of the total money sent home by Bangladeshi expatriates in July last, ending a domination by the nationalised banks, according to Bangladesh Bank sources.
Bangladeshi expatriates remitted home a total of $ 486.80 million in July. Of the amount, $ 192.07 million was transferred through nationalised banks, $ 277.81 million through the private banks and $ 10.59 million entered into the country through foreign commercial banks, central bank sources said.
The sources, however, said state-owned Sonali Bank topped among the banks with $94.86 million transferred through it by Bangladeshi expatriates in July. Privately-run Islami Bank Bangladesh Limited was ranked second with $ 88.656 million, followed by Agrani Bank, a nationalised bank, with $ 49.02 million during the same month.
Three specialised banks also played an important role in transferring $ 6.33 million.
Some of the private sector banks had a remarkable role in bringing remittance into the country. National Bank, Uttara Bank, Pubali Bank and Brac Bank transferred $ 30.55 million, $ 32.86 million, $ 25.65 million and $ 20.67 million respectively into the country in July this year, central bank sources said.
The private sector banks are emerging as the main channel for transferring money of the expatriates.
Private sector banks handled more than 57 per cent of the total money sent home by Bangladeshi expatriates in July last, ending a domination by the nationalised banks, according to Bangladesh Bank sources.
Bangladeshi expatriates remitted home a total of $ 486.80 million in July. Of the amount, $ 192.07 million was transferred through nationalised banks, $ 277.81 million through the private banks and $ 10.59 million entered into the country through foreign commercial banks, central bank sources said.
The sources, however, said state-owned Sonali Bank topped among the banks with $94.86 million transferred through it by Bangladeshi expatriates in July. Privately-run Islami Bank Bangladesh Limited was ranked second with $ 88.656 million, followed by Agrani Bank, a nationalised bank, with $ 49.02 million during the same month.
Three specialised banks also played an important role in transferring $ 6.33 million.
Some of the private sector banks had a remarkable role in bringing remittance into the country. National Bank, Uttara Bank, Pubali Bank and Brac Bank transferred $ 30.55 million, $ 32.86 million, $ 25.65 million and $ 20.67 million respectively into the country in July this year, central bank sources said.
The private sector banks are emerging as the main channel for transferring money of the expatriates.