March remittance at $1.09b,the highest so far
Dhaka, Apr 4: The remittance inflow in March marked a record high of US$ 1.09 billion for the first time despite the recent turmoil in some of the middle-eastern and African countries.
According to the probationary data of Bangladesh Bank (BB) on Monday, the country has received total of $ 1090.487 million at the end of March, making it the largest remittance inflow in a single month so far.
It was about 14 per cent higher than the remittance of $ 956.49 million of the corresponding month of the previous year. The BB’s data also showed the country had recorded highest remittance inflow of $ 1050.54 million in November, 2009 as well as recorded $ 998.64 million in November, 2010. The inflow of March also exceeded the inflow of February by $ 103.517 million.
The highest remittance inflow has removed the recent concern of negative impact of the ongoing political and economic unrest in the middle east and African states as thousands of Bangladeshi expatriates lost their jobs and returned home leaving their savings behind. Data of Bureau of Manpower, Employment and Training (BMET) shows a total of 95,194 Bangladeshis were working in Libya till January this year, constituting only 1.3 per cent of the total 72 lakh expatriates.
The statistical data of BB shows the Bangladeshi expatriates in Libya sent around $ 1.5 million in the fiscal 2009-10, while the country had received a total of $ 10.98 billion for that financial year.
The expatriates in Libya sent $ 40.84 million in the first six months of the current fiscal year 2010-11, the BB data said.
A BB official expressed the optimism that the remittance inflow in the current fiscal year 2010-11 would exceed the remittance $ 10987. 40 million of the previous fiscal year as the expatriates sent home $ 8598.52 million in the first nine months of the FY 2010-11, which just lag behind by $ 2388.88 million compared to the previous FY’s remittance.
The rest amount $ 2388.88 million could be achieved in the remaining three months of the current fiscal year, the official said.