Remittances from the Kingdom of Saudi Arabia (KSA) to Bangladesh surged nearly 20 percent or $244.21 million of the total inflow $1239.11 million in October of the 2018-19 fiscal.
“The remittance flow from different countries, including KSA, increased in last month since Bangladesh Bank (BB) has taken some measures to streamline the legal channel for encouraging Bangladeshi expatriate workers to send home more money, BB senior officials told Bangladesh Post.
According to available data of the central bank, Bangladesh received $2591.51 million from KSA in 2017-2018 fiscal, $2267.22 million in 2016-17 fiscal, $268.71 million in August, $215.28 million in September and $244.21 million in October of the current fiscal.
The data showed Bangladesh received $193.53 million in remittance from the UAE while $140.38 million from USA.
In the same period, Bangladesh received remittances of $103.70 million from Kuwait, $75.64 million from the Oman, $93.10 million from the Malaysia, $82.60 million from the UK, $80.67 million from Qatar, $62.63 million from Italy, $35.36 million from Bahrain, $25.34 million from Singapore, $12.22 million from France and $10.58 million from Lebanon, $10.94million from South Africa. The total inflow of remittance has also witnessed the increase of $99.45 million in the last two months of FY19.
The country received $14981.69 million remittance in 2017-2018 fiscal, $12,769.45 million 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.
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, $1,115.57 million in July in the 2017-2018 fiscal and $1318.18 million in July, $1411.05 million in August, $1139.66 million in September and, $1239.11 million in October in the 2018-2019 fiscal.