Remittances sent by expatriates stood at $1.41 billion in August up by $92.8 million from the previous month, according to the latest figures by the Bangladesh Bank.
In July inward remittances stood nearly $1.32 billion.
Officials concerned said that the remittance inflow increased due to the government’s positive, realistic steps, including facilitating the banking channel for inward remittance and preventing non-banking money transfers, commonly referred as hundi, reports state news agency BSS.
The six state-owned commercial banks- Agrani, Janata, Rupali, Sonali, Basic and BDBL – received $357. 2 million, while the state-owned specialised bank, Bangladesh Krishi Bank, received $15.3 million remittance.
Expatriates sent $10 million through foreign commercial banks.
Among the private commercial banks, Islami Bank Bangladesh Limited (IBBL) received $290 million, the highest amount, and state-run Agrani Bank Limited received $ 150 million.
The remittance inflow had been hovering over $14 billion annually since 2012-13 fiscal year. It crossed the $15 billion mark in fiscal 2014-15.
The amount dropped 2.5 percent to a little below the $15 billion mark in 2015-16 and to a six-year low of $12.77 billion in the last fiscal year.
Bangladesh receives the bulk of its remittances from six Middle-East countries – Saudi Arabia, the United Arab Emirates, Qatar, Oman, Kuwait and Bahrain.