[ad_1]
Due to the coronavirus outbreak, Bangladesh Bank has increased the amount of remittance receipts without any verification. As a result, earnings of Rs 5,000 or Rs 5 lakh sent by expatriates will receive 2 percent cash assistance without any verification. Previously, the government was providing cash assistance up to Tk 1.5 lakh without any evaluation. Bangladesh Bank has issued a notice in this regard today.
It has been said that expatriate income recipients have to submit the documents to the remittance bank branch within 15 days in case of income of more than 1.5 million lakh rupees instead of sending remittances legally. Currently, considering the general convenience of the client, the incentive service will be applicable to send remittances up to a maximum of হাজার 5,000 or up to Rs. In case of higher income, the obligation to present documents within 15 days was relaxed and extended to 2 months. This installation will remain in effect until December 31.
As a result, any amount of income can be sent to the bank branch for up to 2 months.
The government has announced a 2 percent incentive rate in the current 2019-20 budget to increase expatriate income legally. Consequently, starting July 1, expatriates will receive an incentive of Tk 2 for every 100 rupees. The budget has allocated Tk 3,060 crore for this. As a result, expats’ incomes increased. Now the coronavirus has hit him.
Coronavirus outbreaks have caused blockages in many countries. Meanwhile, Bangladeshis living abroad continue to send income (remittances). Last April, expatriates sent remittances of 106 crore 10 lakh dollars, the amount of which is 9,117 crore Bangladeshi rupees.
It is reaching beneficiaries through bank branches, agent banking, mobile financial services (MFS) and NGOs across the country. Throughout the past month of March, 127 crore 8 lakh dollars arrived and in April of last year, 143 crore 40 lakh dollars arrived. As income declined, expatriates, especially workers, continued to send dollars. This expat income information was obtained from sources at the Bank of Bangladesh.
[ad_2]
