Over Tk 107b remittance income in 15 days of July
The growth rate of remittance sent by Bangladeshi expatriates in first two weeks of July shows hope for a record remittance earning this year.
Between 1 and 14 July, expats remitted US$ 1.26 billion ($126.41 crore), equivalent to Tk 107.44 billion (Tk 10,744 crore), said bank officials.
Explaining the high flow of remittance, the bank officials said that expats usually send comparatively more money ahead of Eid-ul-Azha than the other months so that their families could buy sacrificial animals.
Besides, the flow of remittance has increased through legal channels as the coronavirus pandemic blocks illegal ways of money transections.
Bangladesh Bank’s latest data on remittance shows that expats channeled US$ 387.8 million through Islami Bank Bangladesh, $ 169.2 million through Dutch-Bangla Bank Limited, $137.6 million through Agrani Bank and $ 76.4 million through Sonali Bank in the first two weeks of July.
Bankers have observed that remittance through legal channels has been increasing due to the benefit of 2 per cent cash incentive on remittance, additional 1 per cent cash incentive by some commercial banks and easy banking through bank branches and agent banking system at grassroots.
DBBL managing director Abul Kashem Md Shirin told Prothom Alo that agent banking at union level facilitates easy access to the remittance for families of expatriates.
He further said DBBL banking agents distribute more remittance than DBBL branches.