Govt starts giving 2.0pc incentive on remittance

Finance Minister AHM Mustafa Kamal on Wednesday said the government has started giving 2.0 per cent cash incentive on money remitted by expatriate Bangladeshis to remove the burden of increased expenses in sending remittance.

This move will also encourage them to send remittances through legal channels, he added, reports BSS.  

“In the national budget for the fiscal 2019-20, the government announced 2.0 per cent cash incentive on remittance. But, the implementation of the initiative took time due to developing a system,” he told journalist after a meeting of the Cabinet Committee on Government Purchase (CCGP) at cabinet division in the capital.

He informed that the remittance senders from July 1 this year will also get the cash incentive, but it will take two to three more days.

Kamal said anyone can send remittance up to $1500 in each transaction without document.

He said the initiative has already got huge response among the remittance senders as the inflow of remittance increased by 15 to 16 per cent in the last three months.

He hoped that the remittance inflow will be increased by $18 billion to $20 billion in this fiscal.