Second highest remittance in history of Bangladesh
Bangladeshis working in different overseas countries sent nearly one thousand five hundred crore dollars to the country in the recently concluded fiscal year of 2017-18. It is highest in the last three fiscal years and 17 percent higher than the last fiscal year.
The sum of remittance is second highest in the history of Bangladesh that came in a fiscal year. Earlier in 2014-15 fiscal year 15.31 billion dollars remittance came in the country.
Analysts said, oil price hike in the international market, strong role of dollars in the local market and different steps of the central bank to prevent hundi-are the reasons behind the remittance increase.
According to Bangladesh Bank information, the expatriates Bangladeshis sent one thousand 498 crore dollars remittance through banking channels after completion of the fiscal year 2017-18. In the earlier fiscal year it was one thousand 276 crore dollars.
Expatriates sent 138 crore 15 lakh dollars remittance in last June. Of this 33 crore 85 lakh dollars remittance was collected through nationalized banks.
One crore 25 lakh dollars came in through two specialized banks, 101 crore 84 lakh dollars came in through private banks and one crore 19 lakh dollars came in through foreign banks.
Fiscal Year Remittance (in crore dollars)
(Source: Bangladesh Bank)
In the month of May 148 crore 18 dollars came in the country. The expatriates sent more remittance in the month of May and June, the last two months of the fiscal year keeping ahead the month of Ramadan and Eid. In June the most remittance was collected through private bank Islami Bank Bangladesh Limited as usual.
More than half of the remittance comes from six Middle East countries- Saudi Arabia, United Arab Emirates, Qatar, Oman, Kuwait and Bahrain.