Photo: Collected
In response to the recent departure of Sheikh Hasina's government, expatriates had announced that they would send money through informal channels like hundi, expressing a lack of confidence in the outgoing administration. This led to a sudden slowdown in remittance inflows. Although remittances exceeded $2 billion for three consecutive months, in July they suddenly fell below the $2 billion mark.
However, with the fall of Sheikh Hasina's government, the amount of remittances through legal channels has increased. Although the remittance flow slowed in the beginning of August, it later surged significantly.
According to the latest data from Bangladesh Bank, in the first 17 days of August, a total of $1.144 billion in remittances came through legal channels. At an exchange rate of 118 BDT per dollar, this amounts to over BDT 13,374 crore. During this period, state-owned banks received $152.9 million, one specialized bank (Krishi Bank) received approximately $37.7 million, private banks received over $941.4 million, and foreign banks received around $2.15 million.
During the same period, 10 banks, including the state-owned Bangladesh Development Bank (BDBL), specialized Rajshahi Krishi Unnayan Bank (RAKUB), and several private and foreign banks, did not receive any remittances.
Messenger/Shahed
