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$135 million remittance received in 25 days of November

ghost250

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The government and the central bank have taken several initiatives including relaxation of various conditions, waiver of charge fees to increase remittances through legal channels. Still there is no positive response. In other words, the income of expatriates in the legal way is continuously decreasing. However, according to the data of Bangladesh Bank, in the first 25 days of this month, expatriates have sent remittances to the country of 134 million 71 million US dollars. If this trend continues, the expatriate income will reach 1.6 billion dollars at the end of November.

On Sunday (November 27), the central bank said that out of the amount of remittances received on November 25, 23.4 million dollars came through state-owned banks, 2.88 million dollars through a specialized bank, 107.98 million dollars came through private banks and 4.4 million USD remittance came through foreign banks.


In February last year, remittances came in at 149.44 million US dollars. After that, the remittance flow fluctuated, but the remittance flow did not decrease as much as last October. Last October, remittances came in at 1.525 billion US dollars, which was the lowest in 8 consecutive months. In October 2021, remittances reached 1.64 billion 69 million dollars.


On the 25th day of this November, the largest number of remittances came through Islami Bank. 32.88 million dollars came through the bank. After that, Agrani Bank received 9.6 million dollars, Dutch Bangla Bank 8.55 million dollars, Sonali Bank 8.14 million dollars and Al Arafa Islami Bank received 6.45 million dollars.

Meanwhile, after the message from various quarters that 'unless money laundering and black money is reduced, remittances will not increase even through legal means', Bangladesh Financial Intelligence Unit (BFIU) was formed to prevent money laundering and terrorist financing in a new strategy to prevent hundi. BFIU temporarily suspended withdrawal of remittances sent through Hundi to 230 beneficiaries recently.

 

bluesky

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In other words, the income of expatriates in the legal way is continuously decreasing. However, according to the data of Bangladesh Bank, in the first 25 days of this month, expatriates have sent remittances to the country of 134 million 71 million US dollars. If this trend continues, the expatriate income will reach 1.6 billion dollars at the end of November.
BD is reaping what its Hasina govt top-ups have been sowing for a decade.

$135 million in 20 days means $2.464 billion in 365 days aka 1 year. @Black_cats, please find mistakes in full stops, coma, and semicolons for which you are a great expert, but not in substance.

The GoB allowed BAL cronies to steal money in Taka through different illegal methods and these BAL cronies are laundering money overseas in dollars via Hundi.

Since the dollar is not created by Hasina Bibi the fascist, therefore, these cronies buy dollars via Hundi and send them to their accounts overseas.

As a result, the remittances are becoming lower and lower. What a mismanagement of a country by that half-educated Hasina! She should step down but cannot.

I believe the money that Hasina herself stole is very large and she is sending this money via Hundi from a highly developed BD to still underdeveloped Europe in her bank accounts.

Once Hasina steps down, the army will catch her for conspiring to kill 57 military officers in Pilkhana. Many people will wait for the day when this Satan is hanged.
 
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Black_cats

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BD is reaping what its Hasina govt top-ups have been sowing for a decade.

$135 million in 20 days means $2.464 billion in 365 days aka 1 year. @Black_cats, please find mistakes in full stops, coma, and semicolons for which you are a great expert, but not in substance.

The GoB allowed BAL cronies to steal money in Taka through different illegal methods and these BAL cronies are laundering money overseas in dollars via Hundi.

Since the dollar is not created by Hasina Bibi the fascist, therefore, these cronies buy dollars via Hundi and send them to their accounts overseas.

As a result, the remittances are becoming lower and lower. What a mismanagement of a country by that half-educated Hasina! She should step down but cannot.

I believe the money that Hasina herself stole is very large and she is sending this money via Hundi from a highly developed BD to still underdeveloped Europe in her bank accounts.

Once Hasina steps down, the army will catch her for conspiring to kill 57 military officers in Pilkhana. Many people will wait for the day when this Satan is hanged.

Do you know the difference between 1.35 billion USD and 135 million USD. Do not embarrass yourself with constant ignorant post.
 

AmiEktaKharapChele

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lol These people are so pathetic, dourayyya asche bnp'r lello chatar jonno kintu million ar billion er tofad bujhena... aha re buddhijibi



Pora lekha to whatsapp university theke korse mone hoy :D shate guru kanak sarwar and pinaki "bhua doctor" chakraborty'r disciple vibes 🔥



Fata Fati Combination for maximum murrokhota :disagree:
 

mb444

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However, according to the data of Bangladesh Bank, in the first 25 days of this month, expatriates have sent remittances to the country of 134 million 71 million US dollars. If this trend continues, the expatriate income will reach 1.6 billion dollars at the end of November.



Dumbest reporting ever by an absolute illiterate.....

BD is getting $1.65b in remitence per month as opposed to a high of nearly $2b at the height of the pandemic.

BD is loosing a huge amount of remittances to hundi.
 
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AmiEktaKharapChele

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Dumbest reporting ever by an absolute illiterate.....

BD is getting $1.65b in remitence per month as opposed to a high of nearly $2b at the height of the pandemic.

BD is loosing loosing a huge amount of remittances to hundi.

During the pandemic the Hundi system had taken a huge hit, it was probably a short reprieve for the government but it was sorely needed... I wonder, If those record high remittance inflows can be replicated again albeit this time with a complete crackdown on the hundi system..


However, I doubt that would be possible... anytime soon anyway.
 

bluesky

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Hasina Bibi’s policy was based on three wrong fronts.

1) Donot industrialize the country
2) This will force young people to go abroad, work manual and send dollars
3) Hasina Bibi would use the remittance dollars as bait to attract foreign loans
4) Hasina and her BAL party cronies would then steal money from those loan-based projects.

On the other hand?
1) The govt of a poor country should spend all the national strength to build industries.
2) Industries produce high-value wealth.
3) The govt then collects personal income tax, corporate tax, VAT, inheritance taxes and others from these high-value production that enriches the govt coffer.

4) The govt then uses the tax money to do many civil engineering projects like bridges, culverts and roads. People do not have to seek jobs in other countries.

What I said is not the end. But, this is how a country accumulates money, experience, know how, capacity buildup of the private companies. Not many people go abroad to work. Instead, they work to raise the domestic goods.

The economy keeps on increasing year after year and the country becomes self-reliant gradually.

Hasina Bibi’ s formula is lopsided. She is fond of putting the cart in front of the horses. The result is now a weak currency and people use Hundi to remit money.

I have no sympathy if that idiot woman is groaning and crying. But, she is a quack of economics. She should not have come to BD politics. She has stolen money and hurt the country.
 
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bluesky

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Do you know the difference between 1.35 billion USD and 135 million USD. Do not embarrass yourself with constant ignorant post.
Dear Teacher,

Please allow me to enter your famous school of great knowledge where I may learn the basics of Math, Algebra, Geometry, Trigonometry, Differential and Integral Calculus, AstroPhysics, and many others that you are an expert of.

Please understand that surfing internet will not help you. So many subjects that your computer will break down. But, my brain/ head will not.

You can teach me also the history of Bengal. Muslim period, especially the names of Maliks, Sultans, Subedars, and the likes in chronological order.
 

mb444

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During the pandemic the Hundi system had taken a huge hit, it was probably a short reprieve for the government but it was sorely needed... I wonder, If those record high remittance inflows can be replicated again albeit this time with a complete crackdown on the hundi system..


However, I doubt that would be possible... anytime soon anyway.


I am fairly relaxed. Yes people are sending money via channels that gives the largest amount of taka for their money.

Whilst it is true that GoB is missing out on the hard currency deposit, the people of the country are not missing out on the remitence. Our economy will continue to motor and grow
 

AmiEktaKharapChele

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Maybe our rich and influential PDF heroes should pay for all the women in Bangladesh, then the poor women might not have to join the workforce...


Endless Chattering on here while holding foreign passports...



Some mock sweatshops that put food on the tables of millions of people who'd otherwise starve, really shows how out of touch with reality some of our brothers here are.

I am fairly relaxed. Yes people are sending money via channels that gives the largest amount of taka for their money.

Whilst it is true that GoB is missing out on the hard currency deposit, the people of the country are not missing out on the remitence. Our economy will continue to motor and grow


Alot of Money is smuggled abroad espescially into India via the hundi system, I really don't see why the GoB doesn't do something about it.


While we're at it, Why doesn't the GoB stop people from going to India and spending cash on frivolous items that can also be purchased in BD to begin with ?



Tourism or whatever you may call it to India must be banned outright, the GoB should make it extremely difficult for people to travel to India even If it is under the guise of so called Advanced Healthcare.
 
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bluesky

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Taka may fall to Tk200 to a dollar if this sending of money by the BAL cronies and businesses continue for a few weeks into December.

The FEReserves will continue to be depleted as pressure on dollar continues. Very bad situation.

I wonder what that IMF loan money would do when our own dollar money is being laundered by the BAL cronies.

Less dollars will cause a panic when the GoB will pay back about $2.75 billion worth of foreign loans by July next year.
 

bluesky

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The government and the central bank have taken several initiatives including relaxation of various conditions, waiver of charge fees to increase remittances through legal channels. Still there is no positive response. In other words, the income of expatriates in the legal way is continuously decreasing. However, according to the data of Bangladesh Bank, in the first 25 days of this month, expatriates have sent remittances to the country of 134 million 71 million US dollars. If this trend continues, the expatriate income will reach 1.6 billion dollars at the end of November.

On Sunday (November 27), the central bank said that out of the amount of remittances received on November 25, 23.4 million dollars came through state-owned banks, 2.88 million dollars through a specialized bank, 107.98 million dollars came through private banks and 4.4 million USD remittance came through foreign banks.


In February last year, remittances came in at 149.44 million US dollars. After that, the remittance flow fluctuated, but the remittance flow did not decrease as much as last October. Last October, remittances came in at 1.525 billion US dollars, which was the lowest in 8 consecutive months. In October 2021, remittances reached 1.64 billion 69 million dollars.


On the 25th day of this November, the largest number of remittances came through Islami Bank. 32.88 million dollars came through the bank. After that, Agrani Bank received 9.6 million dollars, Dutch Bangla Bank 8.55 million dollars, Sonali Bank 8.14 million dollars and Al Arafa Islami Bank received 6.45 million dollars.

Meanwhile, after the message from various quarters that 'unless money laundering and black money is reduced, remittances will not increase even through legal means', Bangladesh Financial Intelligence Unit (BFIU) was formed to prevent money laundering and terrorist financing in a new strategy to prevent hundi. BFIU temporarily suspended withdrawal of remittances sent through Hundi to 230 beneficiaries recently.

@ghost250, please correct the figure from $135 million remittance to $1,350 million. Your translation is wrong and @Black_cats is very angry with me for not noticing the figure in Bengali.

Please save me from the BAL brats!!

@waz, please correct the headline to $1,350. The wrong title is misleading. It is not $135 million.
 
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mb444

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Maybe our rich and influential PDF heroes should pay for all the women in Bangladesh, then the poor women might not have to join the workforce...


Endless Chattering on here while holding foreign passports...



Some mock sweatshops that put food on the tables of millions of people who'd otherwise starve, really shows how out of touch with reality some of our brothers here are.




Alot of Money is smuggled abroad espescially into India via the hundi system, I really don't see why the GoB doesn't do something about it.


While we're at it, Why doesn't the GoB stop people from going to India and spending cash on frivolous items that can also be purchased in BD to begin with ?



Tourism or whatever you may call it to India must be banned outright, the GoB should make it extremely difficult for people to travel to India even If it is under the guise of so called Advanced Healthcare.


From what i understand hundi works the following way.

You give someone money in sterling in UK, they ask their agents in BD to give your family money in taka. So the sterling balance does not enter BD banking channel formally.

If you wish to buy stetling but can not do it via official channel you buy at kerbside... how they physically gets the sterling into BD I am not sure.

For the first case BoB can track and should shut down hundi transfers and they are doing that to some extent.

Second not sure what you can do.

In terms of losing hard currency, that is happening through overinvoicing. So a BD based company need to pay for something to an overseas company. The scam is undertaken in the following way by introducing a third overseas company as middlemen.

So company A needs to buy some cotton lets say for $100. They cotton is sourced from company B. But company A creates company C overseas, who buy $100 of cotton from company B but they sell it to company A for $150 and invoices.

The $ is sourced from BB and $50 leaves BD fraudulently.
 

fallstuff

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I don't think $135 million received to this day for the month of November is correct.
Bangladesh will be in serious trouble if this is the case.
 

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