Bangladeshi expatriates sent a record $2.64 billion in remittances in December 2023, marking a 32% increase compared to the same period last year, according to a report by the Bangladesh Sangbad Sangstha (BSS) on Wednesday, January 1.
Data from the Bangladesh Bank reveals that remittance inflows for the first six months of the 2024-25 fiscal year (July to December) grew by 27.56%, reaching $13.78 billion. This figure represents a significant increase from $10.80 billion during the same period last fiscal year.
A senior official of the central bank attributed this growth to government measures encouraging non-resident Bangladeshis (NRBs) to use official channels for money transfers. The official noted, “The government’s incentives and facilitation of legitimate remittance transfers have contributed to this remarkable growth.”
The increasing remittance inflows are expected to boost the country’s foreign currency reserves and support the economy amid global economic challenges.
