United News of Bangladesh

The strong inflow of remittances has continued into April, with expatriates sending $1.78 billion in the first 19 days of the month. This follows a record-breaking $3.29 billion received in March. Bangladesh Bank’s latest update revealed that Bangladeshi expatriates have sent around US$ 1.72 billion in inward remittance in 1-19 days of April. In April last year, the expatriates sent $2.04 billion remittance, while in the 19 days of April this year sent $1.78 billion remittance. Accordingly, Bangladesh received $90.45 million remittance so far in each day of April. The state-owned commercial banks received a total of $639.7 million, two specialised banks received $90.26 million, private banks received $985.42 millio,n and foreign banks received $3.35 million. Among the banks, Solani Bank Plc received the highest $278.09 million, Islami Bank Bangladesh PLC received the second highest $266.88 million, and Agrani Bank PLC received the third highest 183.41 million in 19 days of April. Bangladesh received $1.05 billion in remittances in first 12 days of April The expertise sent $21.77 billion remittance in the 9 months (July-March) of the current fiscal year FY2024- 25. On the other hand, remittances of $17.07 billion were received in the first 9 months of the previous FY2023- 24. March $3.29 billion February $2.53 billion. January $2.19 billion December $2.64 billion November $2.2 billion October $2.39 billion September $2.4 billion August $2.22 billion In July $ 1.91 billion

Bangladesh received remittances amounting to US$1.05 billion in the first 12 days of April, according to the latest data released by Bangladesh Bank. This amount reflects a daily average remittance of $87.69 million sent by expatriates during the period. While the flow remains significant, it marks a slight decline compared to the same timeframe in March, when the country recorded its highest remittance inflow in recent months. Bangladesh receives $18.49 billion in remittances over 8 months In March, remittances totalled $3.29 billion, averaging $109.85 million per day. Despite the dip, remittance continues to be a key source of foreign currency for the country’s economy, experts said.

Bangladesh Bank has delivered positive news regarding the country’s foreign exchange reserves, as it surpassed $25 billion before the end of March, following a record inflow of remittances this month. According to data released by the central bank on Thursday (March 27), the country’s gross reserves have risen to $25.44 billion. Bangladesh Bank re-fixed MFS transaction limit This comes after a significant increase in remittance inflows, which reached $2.94 billion in the first 26 days of March – the highest for any month in the country’s history. However, as per the International Monetary Fund (IMF) methodology under the Balance of Payments and International Investment Position Manual (BPM6), Bangladesh’s net reserves currently stand at $20.29 billion. The net reserve figure is calculated by deducting short-term liabilities from the gross reserves. On March 9, Bangladesh paid $1.75 billion to settle import bills through the Asian Clearing Union (ACU), which temporarily reduced the gross reserves to below $25 billion and the net reserves to below $20 billion. Remittance inflow surges amid forex reserve crisis After this payment, the country’s reserves under the BPM6 standard had dropped to $19.75 billion but have since rebounded above the $20 billion mark. The surge in remittances has played a crucial role in replenishing the reserves, providing much-needed relief to the economy ahead of Eid. Central bank officials remain optimistic that continued inflows will help stabilise the foreign exchange reserves further. Speaking to the media, Bangladesh Bank’s spokesperson and Executive Director, Arif Hossain Khan, confirmed the latest reserve figures and expressed confidence in the country's external financial position. NBR preparing stricter tax exemption policy With the upcoming Eid festivities, the record remittance inflows have brought a timely boost to the economy, offering a sense of optimism amidst ongoing financial challenges.

Bangladesh Bank has revoked the restrictions to allow remittances on account of registration/participation fees for attending training, seminar, workshop abroad by employees of banks and finance companies. The Foreign Exchange Policy Department of Bangladesh Bank issued a circular on Thursday (Mar 27). The central bank, along with issuing the circular, has also revoked the earlier circular issued on January 19, 2025. The central bank sent the circular to the authorized dealer banks for immediate action.    

Bangladesh is on track to set a new record in remittance inflows, with expatriates sending $2.25 billion through banking channels in the first 19 days of March. This marks a significant 78.4 per cent increase compared to the same period last year. According to the latest data from Bangladesh Bank, the surge in remittance is largely attributed to the upcoming Eid celebrations, as non-resident Bangladeshis are remitting more funds to support their families. Remittance inflow surges amid forex reserve crisis The current remittance flow far exceeds that of the previous year. During the first 19 days of March 2024, the country received $1.26 billion in remittances. The substantial year-on-year rise underscores the increasing confidence in formal banking channels and the incentives provided for legal remittance transfers. From July 2024 to 19 March 2025, total remittances reached $20.75 billion. This figure is significantly higher than the $16.34 billion recorded during the same period in the previous fiscal year, reflecting an approximate 27 per cent growth. Bangladesh receives $18.49 billion in remittances over 8 months Earlier this month, remittance inflows stood at $1.66 billion in the first 15 days of March. This means that an additional $590 million was received in the subsequent four days, with 19 March alone accounting for $132 million in remittance. Experts predict that if this trend continues, Bangladesh could surpass the $3 billion mark in remittance for March, setting a new monthly record. The highest monthly remittance inflow to date was recorded in December 2024, with $2.64 billion, followed by February 2025 with $2.54 billion. Expatriates send $1.93 billion in remittances in 22 days of Feb With Eid approaching and remittance inflows maintaining their momentum, Bangladesh is poised to achieve a historic milestone in its foreign exchange earnings through expatriate remittances.  

Bangladeshi expatriates sent US $814.29 million in remittances in the first eight days of March, according to the latest update from Bangladesh Bank. Of this amount, $231.35 million came through government banks, $68.45 million through the specialised Krishi Bank, $512.94 million through private banks, and approximately $1.54 million through foreign banks. NBR launches customs risk management to address money laundering But nine banks did not receive any remittances during this period. These include the state-owned Bangladesh Development Bank (BDBL) and the specialised Rajshahi Krishi Unnayan Bank. Among private banks, Community Bank, ICB Islami Bank, and Padma Bank recorded no remittance inflow. Foreign banks that did not receive remittances include Habib Bank, National Bank of Pakistan, Woori Bank, and State Bank of India. Despite concerns over the country's dwindling foreign exchange reserves, the remittance inflow has shown a positive trend. Bangladesh sees sluggish growth in new business and employment in Feb: Report From July to February of the current fiscal year (FY) 2024-25, Bangladesh received a total of $18.49 billion in remittances, marking a 23.8 percent increase compared to $14.93 billion in the same period of FY 2023-24. Bangladesh’s stock market plunges on week’s first trading day According to Bangladesh Bank data, remittance inflows over the last eight months were as follows: July: $1.91 billion August: $2.22 billion September: $2.4 billion October: $2.39 billion November: $2.2 billion December: $2.64 billion January: $2.19 billion February: $2.53 billion According to analysts, the steady growth in remittance inflows is crucial for Bangladesh’s economy, especially as the country grapples with a foreign exchange reserve crisis. They suggest that the increase in remittance could provide much-needed support to the economy by stabilising reserves and maintaining liquidity in the banking sector.

Bangladeshi expatriates sent $2.52 billion in remittances in February 2025, marking a 25 percent year-on-year growth compared to February 2024, when the figure stood at $2.02 billion. From July 2024 to February 2025, the total remittance inflow reached $18.49 billion, compared to $14.93 billion during the same period in the previous fiscal year—an increase of 23.8 percent. Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan made disclosure on Sunday. Monthly Breakdown of Remittances in FY 2024-25: July: $1.91 billion August: $2.22 billion September: $2.4 billion $2.25 billion received in remittances in May, up 10.3% over April October: $2.39 billion November: $2.2 billion December: $2.64 billion January: $2.19 billion February: $2.52 billion According to the central bank, remittance inflows saw a notable rise following the political transition on August 5, 2024. Remittance inflow stands at Tk 16,008.84 crore in first half of Feb Arif Hossain Khan attributed the growth to expatriates increasingly using banking channels to send money home, incentivised by instant bonuses and secure transactions. “The central bank always encourages remitters to send their hard-earned money through secure banking channels,” he said.

Bangladeshi expatriates have sent a total of $670.97 million in remittances during the first eight days of February, according to the latest data from Bangladesh Bank. Of the total remittance, $523 million was received through government banks, while $35.7 million came through Krishi Bank, one of the two specialised banks. Private banks accounted for $431.5 million, and $1.9 million was sent through foreign banks. However, during the specified period, 10 banks did not receive any remittance. Dollar rate for remittance soars as banks compete for overdue payments These included state-owned Bangladesh Development Bank (BDBL), Rajshahi Krishi Unnayan Bank, and several private banks such as Community Bank, Citizen Bank, Global Islami Bank, ICB Islami Bank, and Padma Bank. Foreign sector banks that did not receive remittances included Habib Bank, National Bank of Pakistan, State Bank of India and Uoori Bank. Foreign remittances vital for Bangladesh’s economy: Ambassador Mushfiqul The continued inflow of remittances is an important contributor to the country’s foreign exchange reserves, despite some challenges in the banking sector.  

The US dollar rate for remittances has risen again by 50 basis points, reaching Tk 122.5. Officials from various banks said that over the past two weeks, the price of the dollar has increased by at least 50 basis points, now standing at Tk 122.5 per dollar. After a brief period of stability in the foreign exchange market, the remittance dollar rate has surged due to mounting pressure from overdue import payments. BB-Dollar: Taka loses 12.72% value in 2024 as dollar strengthens Despite this, banks continue to officially display the dollar price at Tk 122, as per Bangladesh Bank’s directive. In late December, the central bank verbally instructed banks to cap the maximum buying and selling rate for remittance dollars at Tk 122. It also mandated that the difference between buying and selling rates must not exceed Tk 1, warning of fines for non-compliance. Bangladesh Bank identifies reasons behind increased dollar demand A senior official of a private bank told UNB that the remittance dollar rate had remained between Tk 121.5 and Tk 122 in line with central bank’s instructions. However, with overdue import payments piling up, competition among banks to secure dollars has intensified, leading some banks to purchase remittance dollars at a higher price. At a meeting on Monday (Jan 27), the central bank directed banks to expedite payments for all overdue import liabilities and back-to-back letters of credit (LCs). This directive, issued during a meeting of the Authorised Dealers Forum, further escalated dollar demand. Following this, the remittance dollar rate surged, rising by at least 50 basis points to reach Tk 122.5 per dollar.

Bangladesh received $1.68 billion in remittance through legal channels during the first 25 days of January. On average, expatriates sent $67.04 million per day during this period. According to the latest data from Bangladesh Bank (BB), the total remittance flow for January is likely to surpass $2 billion if the current trend continues. A breakdown of the central bank’s data shows that of the $1.68 billion received: ·         $354.28 million came through state-owned banks, ·         $74.4 million through a specialised bank, ·         $1,242.53 million from private banks, and ·         $479 million via foreign banks. However, eight banks did not record any remittance inflow during this period. These include the state-owned Bangladesh Development Bank (BDBL) and the specialised Rajshahi Krishi Unnayan Bank. Bangladesh receives over $1.20 billion remittance in 18 days of January Private banks such as Community Bank, ICB Islami Bank, and Padma Bank also failed to report any remittance. Among foreign banks, Habib Bank, National Bank of Pakistan and State Bank of India did not receive any remittance. During the first half of FY2024-25 (July–December), remittance inflows totalled $13.78 billion, compared to $10.8 billion during the same period last year—an increase of $2.98 billion. US tops in remittance inflows to Bangladesh for 3 months: BB