NRBs urged to shift from remittance to investment

Foreign Affairs Adviser Mohammad Touhid Hossain has urged non-resident Bangladeshis (NRBs) to move beyond their traditional role as remittance senders and play a more direct part in investment, employment generation and skills development.

This shift is essential for Bangladesh's long-term economic transformation, he argued, while speaking as the chief guest at the inauguration of the NRB Global Convention 2025, organised by NRB World at a local hotel on Tuesday.

While remittances have helped the country weather recent economic pressures, he said sustainable growth would depend on productive investment and technology-driven job creation at home, areas where NRBs, particularly those engaged in business and technology abroad, could make a decisive difference.

The event, arranged in collaboration with NRB Family Support (NRBFS) and NRB Club Ltd, brought together more than a thousand NRBs from different parts of the world.

Engr Jalil Khan, chairman of NRB Support Limited, Gias Ahmed, president of the America Bangladesh Chamber of Commerce and Industry, and Abdullah Rubel, secretary of the Australia Business Chamber of Commerce and Industry, were among the speakers at the event.

"Remittances have played a decisive role in stabilising the economy over the last one-and-a-half years, particularly during a difficult period," Hossain said, crediting Bangladeshi migrant workers, especially those in the Middle East.

However, he stressed that NRBs, particularly those involved in business and technology, have a much larger role to play.

The adviser said Bangladesh now has a critical mass of NRBs across Europe, North America, the Middle East and Southeast Asia who could act as catalysts for investment and development, similar to the role played by non-resident Indians (NRIs) in India.

Drawing on his diplomatic experience in India, Hossain noted that India's success in leveraging its diaspora was not the result of a single policy initiative, but sustained engagement over time.

While philanthropy remains important, he said investment has a more enduring impact. "Donations help, but investment creates employment, transfers technology, generates profit and allows reinvestment. Helping people to help themselves is far more sustainable," he added.

Referring to the growing trend of risky migration, the adviser said many young Bangladeshis are risking their lives to reach Europe due to limited opportunities at home.

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