Staff Correspondent: Bangladesh Bank’s spokesperson and executive director, Sirajul Islam, told, “Due to multifaceted initiatives of the Bangladesh Bank, remittance is seeing a surge.”
Bangladesh Bank officials say that to increase income, the authority has clamped down on illegal mobile banking.
To meet the Dollar crisis in the banking sector, banks are trying to persuade expatriates to use banking channels to send back the money.
Executive Director of Policy Research Institute (PRI), Ahsan H Mansur, says that remittance has risen due to the rise in Dollar’s price against the Taka.
To increase export income, the price of Dollar has to be fixed at Tk 85.
Just like India, China, Vietnam, the local currency has to be devalued against the Dollar, he observed.
Remittance sent by expats contributes to 12 percent GDP to Bangladesh’s economy.
In 2018-19 first part (July-December), Bangladesh earned $20.49 billion which is 14.42 percent more than the same time last year.
As per Export Promotion Bureau, EPB, 83.34 percent of total export earnings came from the textile sector.
The Bangladesh Bank foreign reserve has exceeded $32 billion and on Thursday stood at $32.122 billion.
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