Remittance hits $1.05b in 12 days
Published: 14 August 2025, 2:06:41
Bangladesh has recorded $1.054 billion in remittance inflows during the first 12 days of August, reflecting a strong 34% year-on-year growth and signaling renewed momentum in foreign exchange earnings.
According to Arif Hossain Khan, Spokesperson and Executive Director at Bangladesh Bank, the figure marks a significant increase from $721 million received during the same period in August 2024—an additional $333 million, equivalent to approximately Tk 4,063 crore.
The robust inflow comes amid government efforts to channel expatriate remittances through formal banking systems and offers a positive outlook for the country’s foreign exchange reserves at the start of the fiscal month.
July Remittance Performance Mixed
In July—the opening month of the 2025–26 fiscal year—total remittance inflows reached $2.47 billion, maintaining a steady pace. However, eight banks reported zero remittance receipts, raising concerns about uneven participation across the banking sector.
The institutions with no inflows included State-owned: Bangladesh Development Bank Limited (BDBL), Rajshahi Krishi Unnayan Bank (RAKUB), Private commercial banks: Community Bank Bangladesh, ICB Islamic Bank, Padma Bank, Foreign banks: Habib Bank Limited (Pakistan), National Bank of Pakistan, State Bank of India.
Bangladesh Bank officials have urged all financial institutions to strengthen their remittance networks and ensure better outreach to overseas workers.
The current momentum follows a record-breaking FY 2024–25, during which the country earned $30.33 billion in remittances—26.8% higher than the previous year’s $23.91 billion.
March 2025 emerged as the peak month, with $3.29 billion in inflows—the highest single-month figure of the fiscal year.
Monthly Remittance Inflows (FY 2024–25): July: $1.91B August: $2.22B September: $2.40B October: $2.39B November: $2.20B December: $2.64B January: $2.19B February: $2.53B March: $3.29B April: $2.75B May: $2.97B June: $2.82BEconomists credit the sustained growth to policy incentives, improved transparency, and initiatives that encourage overseas Bangladeshis to use formal banking channels instead of informal hundi networks.
“Higher exchange rate differentials, faster transaction processing, and targeted campaigns have boosted confidence in the official system,” said Dr. Khurshid Alam, former Director of Research at Bangladesh Bank.
With remittances accounting for a major share of foreign exchange earnings, the upward trend is expected to support macroeconomic stability, ease pressure on the taka, and strengthen the country’s balance of payments.
Bangladesh Bank has reiterated its commitment to expanding digital remittance platforms and enhancing coordination with overseas labor markets to sustain the positive trajectory.
