Remittance through official channels
Thursday, 31 December 2009
BY smashing illegal hundi rackets, Bangladesh can increase the receipts of foreign currency remitted by its work-force abroad. A clamp down to break up illegal hundi channels would automatically encourage the workers abroad to send their remittance through official channels. Official policy to this end, pursued in recent years, produced some encouraging results.
The government should set up more exchange houses to serve the workers abroad. Efficient personnel, with the correct motivation, should be posted at the exchange houses. They should be required to publicise the exchange houses and encourage the workers abroad to send their remittance through the official channel. Many Bangladeshis abroad do not send money through the official channels because they are not aware of its benefits. Distance of exchange houses also discourages many. Solution to these issues would help boost remittance though the official channels.
Simplification of procedures at the exchange houses will motivate the workers to send money home through the channel. If the remitted money reaches home quickly, the senders' confidence will go up.
Shuvra Chakrabarty
Pahartali, Chittagong.
The government should set up more exchange houses to serve the workers abroad. Efficient personnel, with the correct motivation, should be posted at the exchange houses. They should be required to publicise the exchange houses and encourage the workers abroad to send their remittance through the official channel. Many Bangladeshis abroad do not send money through the official channels because they are not aware of its benefits. Distance of exchange houses also discourages many. Solution to these issues would help boost remittance though the official channels.
Simplification of procedures at the exchange houses will motivate the workers to send money home through the channel. If the remitted money reaches home quickly, the senders' confidence will go up.
Shuvra Chakrabarty
Pahartali, Chittagong.