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Bangladesh receives record $1.2bn remittance in January

  • Published at 10:40 pm February 3rd, 2019
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The recent flow of remittance indicates that it is gradually increasing and this trend is likely to continue in the upcoming months Bigstock

The country received $1.16 billion in remittances in January of FY2017-18

Expatriate Bangladeshis sent $1.2billion remittances in January of the current fiscal year (FY2018-19), which is $39.03 million more than the corresponding month of the previous fiscal year (FY2017-18).

The country received $1.16 billion in remittances in January of FY2017-18, reports BSS.

Speaking about the growth in remittance, Bangladesh Bank Chief Spokesperson M Serajul Islam said: “The flow of remittances into the country shows upward trend in the current fiscal year as the central bank has taken measures to streamline the legal channel for encouraging non-resident Bangladeshis [NRBs] to send money into the country.”

He said the recent flow of remittance indicates that it is gradually increasing and this trend is likely to continue in the upcoming months.

In January this fiscal year, six state-owned commercial banks—Agrani, Janata, Rupali, Sonali, Basic Bank, and Bangladesh Development Bank—received $280.71 million while one state-owned specialized bank—Bangladesh Krishi Bank—received $15.10 million.

Of the state-owned banks, Agrani Bank received $118.72 million, Janata Bank $58.45 million, Rupali Bank $16.22 million, Sonali Bank $87.17 million and Basic Bank received $0.15 million.

Expatriates have also sent $978.38 million through private commercial banks.