Remittance in-flow up in Ramadan

Xpress Money, one of the world's leading money transfer brands, has seen a 15 percent rise in remittances to Bangladesh, ahead of Eid-UL-Fitr.
There is an increasing trend of Bangladeshi expats starting to save and send back a little extra money from June onwards, to set the festive mood and bring smiles to their families and friends back home. Remittances to Bangladesh for the month of June 2014 were US $ 1286.37 mn, higher by 21.55 per cent as compared to June 2013 (US $ 1058.24 mn) .
Shamim Iftakhar, Country Manager - Bangladesh, Xpress Money said, "Traditionally, remittance inflows increase during the Holy Month, which concludes with the festivities of Eid-ul-Fitr.
On an average, semi-skilled workers remit about 70- 80% of their earnings each month, however, during Ramadan they try and save 10% more to send back to their families to celebrate the festival with grandeur." Workers manage to save the extra money by making fewer calls home and by cutting down on their meal expenses by attending Iftars organized by Mosques and Corporates.
To add value to their efforts, Xpress Money is currently running the 'Win Everyday' promotion wherein customers transferring money to Bangladesh from UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Jordan, UK, Malaysia, Greece, Maldives and Brunei, can win BDT 20,000 daily and BDT 4,00,000 at the end of the promotion which concludes on August 12, 2014.