Bangladesh Bank recently instructed banks to disburse remittances among beneficiaries within two days of receiving it from overseas remitters.
The central bank framed rules in 2014 stipulating that the disbursement must be made within two days to encourage remittance transfers via legal channels.
It has been noticed recently that it is not being complied with, said the BB in a notice directing banks to follow the rule.
The move comes at a time when Bangladesh is facing a shortage of foreign currencies for the smooth settlement of external payments, including import bills, while remittance inflows through banking channels have declined.
Remittance earnings slipped 13.34% year-on-year to $4.9 billion in the July-September period of the current fiscal.
September was the third consecutive month to witness a fall in remittance inflow.
Last month, migrant workers sent home $1.34 billion, down 12.7% year-on-year and a 41-month low.
Until October 13, migrant workers and non-resident Bangladeshis transferred $781 million through banks, showing an improvement in inflow over the previous two months.
The daily average flow of remittance was $60 million in October, up from $45 million in September, Bangladesh Bank figures showed.
Bangladesh Bank officials said the central bank re-issued the directive based on an analysis of data sent by banks and complaints.
