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This information is available in the remittance image analysis for the first two months (July-August) of the current fiscal year 2020-21.
In these two months, expatriate Bangladeshis have sent a total of 458 crore 21 lakh ($ 4.56 billion) in remittances.
Of this, 212.62 crore came via Islami and Agrani Bank, which is 48.72 percent of the total amount.
By looking at the data from banks in Bangladesh, it can be seen that remittances are sent to more than one crore from Bangladesh in different countries of the world through a total of 56 domestic and foreign banks.
Most of the remittances have always come through Islami Bank. Agrani Bank came in second place.
More remittances are coming through this bank as the government has recently given an additional 1 percent incentive to Banco Agrani remittances with a 2 percent incentive.
Since July last year, the government has been providing incentives at a 2 percent rate on remittances sent by expatriates, one of the main indicators of the economy. In other words, if an expat sends 100 rupees to the country, his relatives receive 102 rupees.
Mohammad Shams-ul Islam, managing director of the state bank, said that remittances through Agrani Bank had increased due to the addition of another one percent incentive.
He told bdnews24.com that they gave an additional 1 percent incentive last Ramadan for fear of reducing remittance inflows during the epidemic.
Due to the increase in remittances, Agrani Bank has decided to give an additional incentive of 1 percent on remittances from now on, taking into account the three main holidays of the year (two Eids and Christmas).
Agrani Bank offers additional incentives for remittances to celebrate the festival
The second highest remittances come from the United States
Sirajul Islam, spokesperson and chief executive of the Bank of Bangladesh, told bdnews24.com that expatriates had also sent remittances worth around £ 2 billion in August. As always, more remittances arrive in the country through the Islami and Agrani banks.
He thinks more remittances will come to the country if other banks like Agrani Bank also give more incentives.
Although remittances declined last April due to the coronavirus epidemic, they have been increasing since then, breaking one record after another.
According to the central bank, remittances grew 50 percent between July and August. In other words, in these two months, expatriates have sent 50 percent more remittances to the country than in the same period last year.
Never in the history of Bangladesh have so many remittances arrived in two months. And there has never been so much growth.
Expats sent remittances of প্র 2.7 billion in July, the first month of the new fiscal year, breaking all previous records. 198.39 million dollars just came to an end in August.
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In July, remittances of £ 68 million were received through Islami Bank. The bank raised £ 598 million in August.
Stock Image
On the other hand, in July, 42 crore 31 lakh dollars came through Agrani Bank. In August 326 million pounds sterling arrived.
In the last fiscal year 2019-20, 40 percent of remittances that came through six government commercial banks came through Agrani Bank. During July-August of this fiscal year, 56 percent of the remittances from these six banks came from Agrani Bank.
In the 2019-20 fiscal year, which ended June 30, expats sent a total of 1,620 crore 30 lakh ($ 16.20 billion). That figure was 10.6 percent more than the previous fiscal 2018-19 year.
Of this remittance, £ 162.7 million came from Agrani Bank. And just over কোটি 3 billion came through Islami Bank.
As a percentage, about 10 percent of total remittances in the last financial year came from Agrani Bank. Islami Bank contributed about 20 percent.
In the last financial year, remittances of Rs 435.48 million came to the country through six state-owned commercial banks.
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