Update November 16, 2020

Dhaka 9-06 am, 02-December, 2020

Bangladesh receives over $1 billion remittance in 12 days

Mirajul Moin Joy

Expatriate Bangladeshis sent over US$ 1 billion remittances during the first twelve days of November in the fiscal 2020-21 which has never been achieved in just 12 days in the history of the country.

The country received around $1.066 billion remittances during the first 12 days of this month in the fiscal, as per a press release of the Finance Ministry.

According to the press release, the country received $9.891 billion up to November 12 this fiscal which is around 43.42 percent higher than the amount of corresponding period of the preceding year.

The country received $6.897 billion remittances during the same period of the 2019-20.

Meanwhile, on the recent remittance surge, Finance Minister AHM Mustafa Kamal thanked the expatriate Bangladeshis on behalf of the countrymen for their role to keep the economy of the country dynamic.

“During this time, our remittance fighters are playing a vital role to keep the economy afloat by sending money. In the budget of 2019-20 financial year, the government announced 2 percent cash incentive to encourage non-resident Bangladeshis (NRBs) to send money to the legal channel,” he said.

He said when remittances started to increase, many started saying that these are not right, will not be, and are not sustainable.

During the first three months of the current financial year, he said when remittances were being received at an extraordinary and incredible pace, many of them started different comments that workers are returning to the country after wrapping up their work or business.

In line with those people, he said, various international organizations also started saying that this flow is not right, it will not be sustainable.

But, he said, the flow of remittance growth since the announcement of the incentives to date has proved their predictions wrong and proved once again that we were right.

As of November 12, expatriates have sent more than $1 billion, which has never been achieved in just 12 days in the history of the country.

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