Bangladesh received $2 billion in remittances within the first 21 days of December
This represents a modest rise from the $1.99 billion received in December 2023.
Bangladesh received $2 billion in remittances within the first 21 days of December, as per the latest update from Bangladesh Bank.
This reflects a slight increase compared to the $1.99 billion received in December 2023.
The rise in remittances has been linked to expatriates increasingly utilizing legal channels, particularly following the country's recent political transition.
Reports suggest that many overseas Bangladeshis had previously hesitated to send money through official systems due to concerns about funds being diverted for money laundering under the previous government.
The change has been driven by growing trust in the country’s banking system.
Husneara Shikha, Executive Director and Spokesperson of Bangladesh Bank, noted that enhanced regulatory oversight has accelerated remittance flows and ensured prompt disbursement to beneficiaries. The central bank is committed to stringent monitoring to guarantee that remittances are distributed swiftly to recipients, she added.
Furthermore, banks have introduced competitive exchange rates and attractive incentives for remittance senders, encouraging greater use of formal banking channels.
Syed Mahbubur Rahman, Managing Director and CEO of Mutual Trust Bank Limited (MTB), emphasized that these incentives have played a crucial role in boosting remittance activity.
From July to December (up to 21 December), expatriates have sent $13.14 billion to Bangladesh, signaling a steady recovery in remittance inflows. Bankers are optimistic that December could set a new record for monthly remittance earnings.
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