Home Bank & Finance Tk 10,257 cr remittance come before Eid-ul-Fitr
Bank & Finance - April 16, 2023

Tk 10,257 cr remittance come before Eid-ul-Fitr

Staff Correspondent: The holy Eid-ul-Fitr will be celebrated on April 22 or 23. A positive trend has been observed in expatriate income ahead of Eid. Record remittances are coming to the country this month (April). In 14 days, remittances of 95 crore 86 lakh 90 thousand dollars arrived. In Bangladeshi currency (107 taka per dollar) which amounts to Tk 10,257 crore. In an average Tk 6.85 crore or Tk 732.64 crore coming every day.
In the current (2022-23) financial year, the first month of July and the second month of August, remittances came in $2 billion consecutively. After six consecutive months passed, the remittance did not reach the milestone of $ 2 billion. Finally, in March, the ninth month of the financial year, remittances turned around again. Crossing the $2 billion milestone.
In this regard, a senior official of Bangladesh Bank said that expatriates have sent record remittances in the month of great independence. The central bank’s efforts to encourage them to send remittances through legitimate channels are working. If the remittance comes in this way, it will exceed $2 billion this month as well.
According to the information of the Central Bank, in the 14th day of the current (April) month, $95.87 crore of expatriate income has arrived in the country. Of this, $13.42 million came through state-owned banks. Expatriate income of $2 crore 68 lakh 20 thousand through specialized banks. $79.43 crore 43 came through private banks and $3.32 million came through foreign banks.
However, no expatriate income came to the country through seven banks during the discussed period. These include the state-owned Bangladesh Development Bank (BDBL), specialized Rajshahi Agricultural Development Bank (RAKAB), private banks include Bengal Commercial Bank, Community Bank, foreign Habib Bank, National Bank of Pakistan and State Bank of India.
In the first two months (July and August) of the current (2022-23) financial year, remittances reached $2 billion consecutively. But since September, six consecutive months have stopped at the house of one and a half billion dollars. In the first month of the current financial year (July), $209.63 million has arrived, in August $203.69 million, in September $153.96 million, in October $152.55 million, in November $159.47 million,
About $1.7 billion in December, $1.95 billion came in January, remittances of $1.56 billion came in February. And more than $2.01 billion came in the recent month of March.
Before this, in the financial year 2021-22, a total of $2103 crore 17 lakh ($21.03 billion) US dollars remittances came to the country through banking channels. This is 15.11 percent less than its previous fiscal year. In the fiscal year 2020-21, remittances of $2,477 crore 77 lakh (24.77 billion) dollars came.

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