March remittance at $1.09b,the highest so far

http://www.theindependentbd.com/business/finance/42900-march-remittance-at-109bthe-highest-so-far.html

March remittance at $1.09b,the highest so far
AKRAM HOSSAIN

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.

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