Bangladesh is seeing a sharp rise in remittances, with citizens working abroad sending an average of $75 million daily in October, following the recent political transition. The latest data from Bangladesh Bank reveals that a total of $1.94 billion in remittance has flown into the country by October 26.
An analysis of central bank data shows that six state-owned banks received $547 million in remittance, while Bangladesh Krishi Bank received $99.99 million. The private sector accounted for the largest share, with 42 banks collectively receiving $1.296 billion, and six foreign banks processing $5.12 million from October 1 to 26, reports UNB.
However, nine banks reported zero remittance inflow during this period. These include state-owned Bangladesh Development Bank (BDBL) and specialized Rajshahi Krishi Unnayan Bank (RKUB), as well as private banks Community Bank, Citizens Bank, ICB Islamic Bank, and Padma Bank. Foreign banks, including Habib Bank, National Bank of Pakistan, and State Bank of India, also reported no remittance transactions.
