Expatriate Bangladeshis sent around US$ 1.22 billion remittances during the first fifteen days of November in fiscal 2020-21.
According to a press release of the Finance Ministry, the country received $0.91 billion in the first fifteen days of November in fiscal 2019-20.
As per the press release, the country received $10.04 billion up to November 15 this fiscal which is around 42 percent higher than the amount of the corresponding period of the preceding year.
The country received $7.07 billion in remittances during the same period of 2019-20.
Meanwhile, on the recent remittance surge, Finance Minister AHM Mustafa Kamal thanked the expatriate Bangladeshis on behalf of the countrymen for their role to keep the economy of the country dynamic.
“During this time, our remittance fighters are playing a vital role to keep the economy afloat by sending money. In the budget of 2019-20 financial year, the government announced a 2 percent cash incentive to encourage non-resident Bangladeshis (NRBs) to send money to the legal channel,” he said.
He said when remittances started to increase, many started saying that these are not right, will not be, and are not sustainable.
During the first three months of the current financial year, he said when remittances were being received at an extraordinary and incredible pace, many of them started different comments that workers are returning to the country after wrapping up their work or business.
In line with those people, he said, various international organizations also started saying that this flow is not right, it will not be sustainable.
But, he said, the flow of remittance growth since the announcement of the incentives to date has proved their predictions wrong and proved once again that we were right.
Photo credit: Collected
News source: The Daily Observer