Remittance from S Arabia accounts for 22pc of total inflow in 2014-15

Remittance flow from expatriates in Saudi Arabia has increased. Non-resident Bangladeshis (NRB) in the oil-rich Middle Eastern country have always accounted for the largest remittance to Bangladesh. Bangladesh Bank figures show that remittance in the 2014-2015 fiscal year stood at $15.31 billion. NRBs in Saudi Arabia sent $3.34b during the financial year, accounting for 22 per cent. In the 2011-2012 and 2012-2013 fiscal years, remittance by expatriates was over $3.6 billion but fell to $3.11 billion two years ago. The inflow from Saudi Arabia had dropped in 2013-2014 due to visa complications, and Akama or the procedure involved in changing jobs. Around 1.5 million Bangladesh nationals are currently working in Saudi Arabia, reveal official data, making it Bangladesh’s biggest labour market. Inflows from the United Arab Emirates (UAE) and the USA, the next top contributors after Saudi Arabia, have now increased. Expatriates in the UAE sent $2.82b, while remittance from the US was $2.38b during the FY 2014-2015. According to the expatriates’ welfare ministry, around 600,000 Bangladeshis are currently in the UAE and almost 500,000 in the US, reports a news agency.

- mbz