Bangladesh received a record $2.94 billion in remittances in the first 26 days of March, driven by Eid-ul-Fitr, one of the biggest festivals for Muslims. 

The inflow was 82.46 percent higher than the same period last year, according to industry insiders. 

Remittance receipts are expected to surpass $3 billion by the end of the month, marking a historic high for a single month. 

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Record February: remittances climb 25% to $2.52b

Apart from the Eid-related surge, the demand for hundi and hawala—illegal cross-border money transfer channels—has declined following a crackdown on operators after the political changeover, said Mirza Elias Uddin Ahmed, managing director and CEO of Jamuna Bank. 

This has diverted more remittances through formal banking channels, he added.