Remittances pick up pace ahead of Eid-ul-Azha

Staff Reporter :
Bangladeshi expatriates sent more than $2.02billion through banking channels in the first 25 days of June.

In May, the country received $1.69 billion in remittances, according to data from Bangladesh Bank.

Bankers said that the inflow of remittance in 25 days of June has surpassed the figure of May as many expatriates usually send additional money to purchase sacrificial animals at home on the occasion of Eid-ul-Azha, to be held on June 29.

From June 1 to June 23, the highest $291 million remittance came to the country through Islami Bank. The country’s remittance inflows witnessed a rapid growth ahead of Eid festival to stand at US$ 1.79 billion within 23 days in June.

Remitters transferred $1.69 billion in May and $1.68 billion in April, according to data from the Bangladesh Bank.

From June 1 to June 23, the highest $291 million remittance came to the country through Islami Bank Bangladesh Ltd.

State-owned Agrani Bank came second as it channeled $115 million while private commercial lender Premier Bank brought home the third-highest amount of $114 million.

Meanwhile, till 25 June of the current fiscal year of 2022-2023, the total amount of inward remittance is around $ 21.5 billion.

Earlier, in the financial year of 2021-2022 and 2020-2021 expatriates sent home USD 21.03 billion and USD 24.77 billion respectively.