In a bid to boost the national reserve, private initiatives have been taken to boost the remittance flow from the United States, showcasing a two-day Bangladesh Remittance Fair to begin from October 20.
The Bangladesh-American Chamber of Commerce and Industry, Mukti Dhara New York and the US-Bangla Business Link powered by Dhaka Bank are jointly organising the event at the Jamaica Performing Arts Center in New York.
Apart from it, Islamic Bank, National Bank and Bank Asia will be awarded as the country’s top remittance-receiving banks.
As part of the legal channeling of the remittance flow, the upcoming fair is dedicated to promoting legal remittance flows and fostering sustainable economic growth.
“The fair aims to enhance foreign earnings while encouraging expatriates to use legitimate channels for remittance, thus invigorating the economy,” the organisers said.
The event will host a diverse array of participants, including banks, financial institutions, money transfer operators, remittance partners, mobile financial services, offshore banking providers, and expatriate small business owners.
Notable participants include over 30 financial institutions from both Bangladesh and the United States, such as IFIC Bank, Islamic Bank, Standard Bank, Social Islamic Bank Limited, Dhaka Bank, Chevron Express, and Standard Express.
In addition to showcasing remittance options, the fair will feature seminars and symposiums focused on the remittance landscape.
To recognise contributions, awards will be presented to the top 10 Bangladeshi-American remittance senders, as well as the leading money exchange and remittance channel companies.
Data from Bangladesh Bank highlights significant remittance inflows from the US this year, with Islamic Bank receiving $663.99 million, National Bank $379.64 million, and Bank Asia $212.95 million.
The fair will be held from 4pm to 10pm (NY time) on both days, featuring performances by popular artists Pousali Banerjee and Shah Mahbub on October 20.
