Remittances from the Kingdom of United Arab Emirates (UAE) to Bangladesh surged 16.21 percent or $2428.06 million of the total inflow $14,978.86 million in the 2017-18 fiscal.
“The remittance flow from different countries, including UAE, increased in FY18 since Bangladesh Bank (BB) took some measures to streamline the legal channel for encouraging the non-resident Bangladeshis (NRBs) to send home money, BB senior officials told Bangladesh Post.
According to available data of the central bank, Bangladesh received $2093.54 million from the UAE in 2016-17 fiscal, $2711.74 million in 2015-16 fiscal, and $2823.77 million remittance from 2014-15 fiscal.
The data showed Bangladesh received $1199.70 million in remittance from the Kuwait in FY18 while $1107.21 million from Malaysia.
In the same period, Bangladesh received remittances of $1105.55 million from UK, $958.19 million from the Oman, $844.06 million from Qatar, $662.22 million from Italy, $541.62 million from Bahrain, $330.16 million from Singapore, $153.15 million from South Africa, $134.40 million from France and $115.72 million from Lebanon.
The total inflow of remittance has also increased by $2,209.41 million or 17.30 percent in FY18.
The country received $12,769.45 million remittance in 2016-17 fiscal. In 2015-16 fiscal, the amount was $14,931.18 million while the Bangladeshi expatriates sent $15,316.91 million in 2014-15 fiscal.
BB senior officials said the flow of remittance indicates that it is gradually increasing and this trend is likely to continue in the 2018-19 fiscal.
According to the BB data, the country received $1,381.55 million in June, $1,504.98 million in May, $1,331.33 million in April, $1,299.77 million in March, $1,149.08 million in February, $1,379.79 million in January, $1,163.82 million in December, $1,214.75 million in November, $1162.77 million in October, $856.87 million in September, $1,418.58 million in August and $1,115.57 million in July in the FY18.