Remittance inflow crosses $13,000m in 2017
The inflow of remittance has crossed US$13,000 million in the just-concluded 2017 as the flow has been increased during the last couple of months.
According to the Bangladesh Bank (BB) latest data, expatriate Bangladeshis have sent $6,935.72 million during July to December period in 2017 and $6,602.60 million in the first six months of the year. The total amount of the remittance inflow was $13,538.32 million during the 2017.
"Due to steps taken by the central bank, the inflow of remittance in the last couple of months in the outgoing year showed an upward trend prompting the non-residence Bangladeshis (NRBs) to send money through the legal channels," BB Deputy Governor Abu Hena Mohammad Razee Hassan said on Monday.
In the first couple of months of 2017, the inflow of remittance was slow for the low oil prices which hit the income of the Middle Eastern countries where most Bangladeshi migrants work, he said.
Moreover, some NRBs also used informal channels, including mobile banking, for sending their money home, he added.
He said BB has taken all necessary steps to bring back the inflow of remittance through legal channels and now NRBs are feeling more comfortable to send their earnings through legal channels, he added.
According to the data of BB, migrant workers remitted $1,009.47 million in January, $940.75 million in February, $1,077.52 million in March, $1,092.64 million in April, $1,267.61 million in May and $1,214.61 million in June, $1,115.57 million in July, $1,418.58 million in August, $856.87 million in September, $1,162.77 million in October, $1,214.75 million in November and $1,167.18 million in December. —BSS