SM Faruqi Hasan, founding president of the Ontario unit of the Awami League, is involved in the case
Remittances have become a much-anticipated relief for the economy reeling under macroeconomic stress, growing steadily since August last year and providing the interim government with a breather amid a rapid erosion of foreign exchange reserves.
Migrants sent home $2.52 billion in February
Migrants sent home $2.18 billion in the first month of 2025
However, November’s inflow of $2.2 billion was 8.16% lower than the previous month
Migrant Bangladeshis sent home $2.39 billion in October
Many are sympathetic towards migrant workers for justifiable reasons.
After hovering around the $21-billion mark for the previous two fiscal years, total remittances sent home by Bangladesh’s migrant workers reached nearly $24 billion in the just concluded fiscal year of 2023-24, providing some breathing space amid the forex crunch.
Bangladesh received the highest remittance from the United Arab Emirates in the first 10 months of the outgoing fiscal year, well ahead of traditional powerhouses such as Saudi Arabia and the United States, central bank figures showed.
Thanks to higher inflow of remittances for Eid-ul-Azha
The allocation for subsidies in agriculture, food, and power will be raised considerably in the next budget, with an aim to ease inflationary pressure on people.
Islami Bank Bangladesh Ltd (IBBL) retained its top spot as the biggest remittance collector as it brought home the highest amount of funds sent home by migrant workers in January-March of 2023, official figures showed.
Migrant workers sent home $1.68 billion in October
The amount is a seven-month high
Take concrete steps to address loopholes in the system
However, February's remittance of $1.56 billion was 20.3 per cent lower than the previous month's $1.95 billion
According to the Guidelines for Foreign Exchange Transactions 2018, a declaration is not required against inward remittances up to $10,000 or its equivalent.
The USA has 5 lakh Bangladeshi migrant workers and Saudi Arabia 20 lakh
Bangladeshis in the North American country sent home $966.89 million in the October-December period of 2022
