Business Report :
Remittance inflow into Bangladesh surged by $1.07b in September, marking an impressive 80.22% year-on-year increase.
According to the Bangladesh Bank, total remittances in September of the current fiscal year (2024-25) reached $2.40 billion, a substantial increase from $1.33 billion in the same month of the previous fiscal year.
Additionally, remittances in September rose by $180 million compared to the previous month.
This surge indicates a growing trend of expatriates utilising formal banking channels to send money to Bangladesh.
Bankers attribute this increase to a shift away from informal methods like hundi since the formation of the new government.
Expatriates are now more willing to stand in queues at banks to send remittances, contributing to a significant boost in the country’s expatriate income, they said.