Remittance rises 12% in September

Remittance inflow to Bangladesh grew 12 percent year-on-year to $2.68 billion in September.

The increase in the third month of the current fiscal year has been attributed to a narrowing gap between official and informal exchange rates and a crackdown on money laundering, industry insiders said.

September's inflow was 11 percent higher than that of August's $2.42 billion, according to Bangladesh Bank data.

In the July-September period of this fiscal year, remittance earnings stood at $7.58 billion, up from $6.54 billion in the same period of the previous fiscal year, the data showed.

Last month, Islami Bank Bangladesh received the highest remittance of $699 million, followed by Bangladesh Krishi Bank with $258 million, Janata Bank with $170 million, and BRAC Bank with $160 million.

A BB official said that an increased number of Bangladeshi expatriates are currently sending money through formal channels.

In the 2024-25 fiscal year, remittance flow crossed $30 billion for the first time and rose by a record $6.4 billion.