Expatriates had announced to send money in hundi expressing no confidence in the recently departed Sheikh Hasina government. This suddenly reduces the speed of remittance. As a result, remittances have been more than two billion for three consecutive months, but suddenly fell below two billion dollars in July.
However, with the fall of Sheikh Hasina’s government, the amount of remittances coming through legal channels increased dramatically. Remittances came to a standstill in early August this month, but later it increased manifold.
The updated information of Bangladesh Bank says that in the first 17 days of August this month, remittances of 114 crore 42 lakh 20 thousand dollars have arrived in the country through legal means. Up to the first 3 days of August, remittances to the country reached 9.56 million 50 thousand dollars. And only from August 4 to 10 came 38 million 71 million 20 thousand dollars.
According to the review of the data, in the first 17 days of August, remittances received through legal channels were 114 crore 42 lakh 20 thousand dollars. In Bangladeshi currency (as per dollar 118 taka) which amounts to more than 13 thousand 374 crore taka.
At this time, 15 million 29 million dollars came through the state-owned banks, about 3 million 77 million dollars came through one of the two specialized banks (Krishi Bank). More than 94 million 14 million dollars came through private banks and 2.15 million dollars came through foreign banks.
The number of banks which did not receive any remittance during the discussed period is 10. These include the Rashtriya Bangladesh Development Bank or BDBL, the specialized Rajshahi Agricultural Development Bank or RAKAB. Private Sector Community Bank, Citizen Bank, ICB Islami Bank, Padma Bank, Shimonda Bank. Foreign sector banks include Habib Bank, National Bank of Pakistan, State Bank of India and Uri Bank.
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