BD sees remittance inflow grows 23.8% in the first 12 days of July

Bangladesh has seen a big jump in the amount of money sent home by citizens working abroad. In the first 12 days of July, these money transfers, known as remittances, went up by 23.8 per cent compared to the same time last year.

According to new data from Bangladesh Bank, the country received 1.325 billion US dollars from workers abroad between July 1 and July 12. This is a big increase from the 1.071 billion US dollars received during those same dates last year. The central bank also shared that on July 12 alone, workers sent home 171 million US dollars.

This steady rise in money is great news for the country’s finances. Experts say this extra foreign cash will help boost Bangladesh’s central money reserves. It will also help the country stay financially stable and make it much easier to pay for goods imported from other countries.

The government and Bangladesh Bank have been working hard to make this happen. They have introduced several new plans to encourage workers living abroad to send their earnings home through official bank accounts instead of risky, unofficial channels. These efforts are a big reason why the country is seeing such a positive rise in formal money transfers.