Remittance inflow sees 38.88% growth in August

Expatriate Bangladeshis sent $2221.32 million remittances in August, 2024 which was 38.88 percent higher than the corresponding month of the previous year.

The country received $1,599.45 million from overseas workers in August 2023, according to the central bank data, reports BSS.

During July to August in the current 2024-25 fiscal year, expatriate Bangladeshis sent $4,135.09 million remittances against $3,572.6 million for the same period of the previous fiscal.

A senior official of the central bank said Bangladesh Bank has taken different steps to increase remittance to overcome the foreign exchange crisis and increase reserves.

These measures have had a positive impact on expatriate income or remittance coming into the country, he added.

According to the BB data, in August, six state-owned commercial banks - Agrani, Janata, Rupali, Sonali, Basic and BDBL - received $383.46 million while one state-owned specialized bank- Bangladesh Krishi Bank- received $78.12 million.

Of the state-owned banks, Agrani Bank received $96.89 million, Janata Bank $155.88 million, Rupali Bank $100.65 million, Sonali Bank $29.96 million and Basic Bank received $0.07 million.

Besides, the expatriates have sent $1755.04 million through private commercial banks.

The highest $405.23 million remittance came to the country through Islami Bank Bangladesh Ltd.