Millions of Bangladeshis remitted home nearly $13bn in the first 11 months of the current fiscal year ending this month, a central bank official said yesterday.
The Bangladesh Bank (BB) official said that “the flow of inward remittances in the 11 months of the 2013-14 financial year (July 2013-June 2014) fell about 3.54% to $12,929.32mn,” Xinhua reported.
Sources said the decrease in total inflow of remittance were due mainly to sluggish overseas employment and political instability surrounding the January 5 national elections.
The BB data, however, showed that the inflow of remittances had posted a double-digit growth in May.
The inward remittance registered an about 11% growth in May compared with the same month a year ago following restoration of political stability in Bangladesh, said the official who preferred to be unnamed.
He said millions of non-resident Bangladeshis, living and working in over 100 countries, remitted home in May $1,202.18mn in May.
Most of the remittances for the impoverished South Asian country come from Saudi Arabia, the UAE, the US, Kuwait, Britain, Malaysia, Oman, Qatar, Singapore, Bahrain, Italy and Australia, showed the BB data.
