Tuesday, January 23, 2018 | ePaper

BB to give award to encourage inflow of remittances

  • Print
Economic Reporter :
Bangladesh Bank (BB) will give remittance award to the highest remittance senders and the highest remittance receiving institutions for encouraging Non Residence Bangladeshis (NRBs) to send money
through legal channels.
"We will give the 'Bangladesh Bank Remittance Award-2016' under five categories to expedite the inflow of remittance," BB's Financial Inclusion Department General Manager M Abul Bashar told on Tuesday.
The categories are skilled remitter, unskilled remitter, bond investor NRB, exchange house owner NRB and the highest remittance receiver bank.
Abul Bashar said the award will be handed over at a function to be held on September 19 at Bangla Academy in the city.
Finance Minister AMA Muhith is expected to attend the function as the chief guest while Financial Institutions Division Secretary M Eunusur Rahman and BB Governor Fazle Kabir will attend it as special guests.
BB Deputy Governor Shitangshu Kumar Sur Chowdhury will chair the function.
A total of 35 awardees, including remitters, exchange houses, bond investors and banks, will receive the award. Out of 35 awardees, five banks will get the award this year.
There was a falling trend in the inflow of remittances since fiscal year 2014-15 but the situation witnessed a change at the beginning of fiscal year 2017-18 as the expatriates sent home US$1,418.58 million in August, up by $234.97 million from the corresponding month in the previous fiscal 2016-17 (FY17), according to the BB data.
Migrant workers sent $ 1,115.57 million in July, which was $110.06 million up from the corresponding month in the previous fiscal.
"The overall situation has improved as BB has taken some measures to streamline the legal channel for encouraging Non-Resident Bangladeshis (NRBs) to send home money," said Bangladesh Bank (BB's) Deputy Governor Abu Hena Mohammad Razee Hassan earlier.
As part of its move to plug the informal channels, he said, the central bank has already put some mobile banking operators under close supervision as it has identified some mobile accounts used for sending home remittances illegally, he added.
According to BB, the country received a total of $15,316.91 million in FY15, $14,931.15 million in FY16 and $12,769 million in FY17.
"The recent flow of remittance indicates that it is gradually increasing and this trend is likely to continue throughout FY 18. BB is trying to create awareness among the expatriates to send remittances through proper channels," said Hassan.

More News For this Category

Managing Director of Social Islami Bank Limited, Quazi Osman Ali, inaugurating it's an Electricity Bill Collection Booth at Shaymoli Circle Bhaban in the city on Monday. Engr. Bikash Dewan, Managing Director and Engr. A T M Harun-or Rashid, Executive Director of Dhaka Power Distribution Company among others were also present.

Managing Director of Social Islami Bank Limited, Quazi Osman Ali, inaugurating it's an Electricity Bill Collection Booth at Shaymoli Circle Bhaban in the city on Monday. Engr. Bikash Dewan, Managing Director and Engr. A T M Harun-or Rashid, Executive Director of Dhaka Power Distribution Company among others were also present.

.

Workshop on delta management in BD held

Business Desk :Netherlands Organisation for Scientific Research, Bangladesh Delta plan 2100 and Institute of Water Modeling jointly organized a workshop on Linking Urbanizing Deltas of the World research, innovation

Customers' flow at Walton Pavilion

Economic Reporter :A good number of buyers and visitors are thronging the Walton Pavilion at the ongoing month-long Dhaka International Trade Fair (DITF)-2018 at Sher-e-Bangla Nagar in the capital

Rezaul Karim new SCB chairman

Rezaul Karim new SCB chairman

Business Desk :Md Rezaul Karim Proprietor, S.N. Jute International, has been re-elected as Chairman of Shippers' Council of Bangladesh (SCB). He is Vice Chairman of Asian Shippers' Alliance (ASA)

BEPZA Int'l Investors Summit tomorrow

Economic Reporter :Bangladesh Export Processing Zones Authority (BEPZA) is set to arrange the 'BEPZA International Investors Summit 2018' at Bangabandhu International Conference Center (BICC) in the capital on January

DTG- 2018 exhibition from Feb 8

Business Desk :The 2018 Dhaka Int'l Textile and Garment Machinery Exhibition (DTG), the largest-ever trade fair of its kind in Bangladesh, will run February 08-11 at Bangabandhu International Conference

ERD informs cabinet over preparation

Economic Reporter :Three prime economic indicators suggested Bangladesh's preparedness for graduation as a "developing country", discarding its status of a "least developed" one or LDC by 2025, the ERD

BD-Indonesia to sign JMS this month

Economic Reporter :Bangladesh and Indonesia will sign Joint Ministerial Statement (JMS) this month for the Preferential Trade Agreement (PTA) towards removing trade barriers."Commerce ministers of both the countries will

Four mobile operators evade Tk 900cr VAT

Four mobile operators evade Tk 900cr VAT

Economic Reporter :Four private mobile operators of Bangladesh evade more than Tk 900 crore in name of SIM replacement.The Value Added Tax (VAT) branch of Large Tax Unit (LTU)

Dr. Engr.Rashid Ahmed Chowdhury, Chairman of Bangladesh Commerce Bank Limited, presiding over its Yearly Business Conference-2018 at a hotel in the city on Saturday. RQM Forkan, Managing Director and Directors of the bank among others were present.

Dr. Engr.Rashid Ahmed Chowdhury, Chairman of Bangladesh Commerce Bank Limited, presiding over its Yearly Business Conference-2018 at a hotel in the city on Saturday. RQM Forkan, Managing Director and Directors of the bank among others were present.

.