Bangladesh: 1 billion dollar remittance record in 12 days

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Bangladesh has set a record in remittances. This time the expatriates have sent one billion US dollars in just 12 days. This information was given in a press release sent by the Ministry of Finance on Monday (November 18).

It is said that in the history of the country, never before in the 12 days of a single month has so much money come from expatriate income. This is said to be a rare event in the history of the country. As a result, Finance Minister AHM Mustafa Kamal expressed his gratitude to those concerned.

According to the Central Bank, in the last fiscal year 2019-2020, the expatriates sent a total of 1,620.49 million dollars to the country. In domestic currency, the amount is one lakh 54 thousand 742 crore rupees (75 rupees per dollar). Never before has so much money come to the country.

In the financial year 2018-19, a record number of remittances were collected in the country. At that time, the expatriates sent remittances of one thousand 742 crore dollars. As a result, remittances have increased by 16 crore 53 lakh dollars or 15 thousand crore taka in the just-ended financial year as compared to the previous financial year.

In this regard, the Finance Minister said, the whole world has fallen into a major economic crisis due to the impact of Covid-19. During this time, our remittance fighters have been instrumental in keeping our economy afloat by sending money with difficulty. In the budget of 2019-2020, it was announced that 2 percent cash incentive will be given if remittances or remittances are sent legally from abroad. Soon after that, when remittances started to increase, many people started saying that these are not right, will not be, are not sustainable. During the first three months of the current financial year, when remittances were being received at an extraordinary and incredible pace, the workers started making various comments, including returning to the country after wrapping up their work or business.

He said that while remittances were being received at an extraordinary and incredible pace in the first three months of the current financial year, the workers started making various comments that they were returning to the country after wrapping up their work or business. In line with those people, various international organizations also started saying that this flow is not right, it will not be sustainable. But the flow of remittance growth since the announcement of the stimulus has proved their predictions wrong and proved once again that we were right.