Finance Minister AHM Mustafa Kamal on Friday urged the expatriates to send their money through legal channels for getting two per cent incentive on the remittance.
“The government is giving two percent incentive on remittance to encourage the expatriates to send money to the country,” he said, adding that the government has already allocated Tk 3,060 crore fund in this regard.
He made the comments while addressing a discussion titled ‘Incentivizing Remittances from the UK: Milestone Initiatives of Prime Minister Sheikh Hasina’ at Bangladesh High Commission in London, said a press release issued by the finance ministry.
Appreciating the contribution of expatriates to the country’s growth, he said expatriates who send money to the country are playing a vital role for Bangladesh’s economy.
The minister assured that if the amount of remittance in each transaction is not above $1,500 then the sender will not face any problem.
“The government started giving two per cent intensive to the expatriates from July 2019, he informed, adding those who have sent money during that time can collect their incentive through their respective remittance sending organisations.
“Prime Minister Sheikh Hasina has given two per cent intensive which aims to increase the remittance flows,” Kamal also said.
He said a seven-member committee will be formed in the UK to supervise the remittance related problems of the expatriates.
Representatives of more than 20 remittance-sending organisations took part in the discussion.