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BB step to push up remittance inflow

Published : 23 May 2022 09:53 PM | Updated : 24 May 2022 02:02 PM
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The Bangladesh Bank (BB) has relaxed the conditions for availing 2.5 percent cash incentive for inward remittances over Tk 5,00,000.

From now on migrant workers can get the incentives without submitting any documents, said a circular of Bangladesh Bank on Monday. As a result, expatriate Bangladeshis working in different countries of the world can easily send remittances to the country.

Earlier, remitters needed to submit remittance related documents over Tk 5,00,000.

This new facility will be available until further notice, the circular from the Foreign Exchange and Policy Department of the central bank mentioned.

Bangladesh received $2.09 billion in remittances in April, the highest amount in a single month of the current fiscal year.

This important index of the economy had increased in last December and January after a decline for five consecutive months (July-November, 2021). In December and January, remittances were $1.63 billion and $1.70 billion respectively.

In February, this inflow stumbled again as expatriates sent $1.49 billion during the time.

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