Expats send $670.97 million in remittances in first 8 days of February

Bangladeshi expatriates have sent a total of $670.97 million in remittances during the first eight days of February, according to the latest data from Bangladesh Bank.

Of the total remittance, $523 million was received through government banks, while $35.7 million came through Krishi Bank, one of the two specialised banks.

Private banks accounted for $431.5 million, and $1.9 million was sent through foreign banks.

However, during the specified period, 10 banks did not receive any remittances.

These included the state-owned Bangladesh Development Bank (BDBL), Rajshahi Krishi Unnayan Bank, and several private banks such as Community Bank, Citizen Bank, Global Islami Bank, ICB Islami Bank, and Padma Bank.

Foreign sector banks that did not receive remittances included Habib Bank, National Bank of Pakistan, State Bank of India, and Uoori Bank.

The continued inflow of remittances is an important contributor to the country’s foreign exchange reserves, despite some challenges in the banking sector.