Eight banks fail to attract remittances despite record inflows

Even though Bangladesh witnessed record-breaking remittance inflows in recent times, eight banks failed to attract a single penny from expatriates, reports UNB.

The banks with zero remittance receipts include two state-owned institutions -- Bangladesh Development Bank (BDBL) and Rajshahi Krishi Unnayan Bank (RAKUB); three private banks -- Citizen Bank, ICB Islamic Bank, and Padma Bank; and four foreign banks -- Habib Bank, National Bank of Pakistan, State Bank of India, and Woori Bank.

Bangladesh received a record US$3.29 billion in remittances ahead of Eid, and the momentum has continued even after the festival.

In the first 19 days of April alone, expatriates sent US$1.78 billion, with an average daily inflow exceeding US$90 million (approximately Tk 1,104 crore).

But, none of these eight banks received any portion of this remittance during the period.