Remittances near record $3 billion in March
The inflow was 82.46 percent higher than the same period last year, according to industry insiders.
Bangladesh received a record $2.94 billion in remittances in the first 26 days of March, driven by Eid-ul-Fitr, one of the biggest festivals for Muslims.
The inflow was 82.46 percent higher than the same period last year, according to industry insiders.
For all latest news, follow The Daily Star's Google News channel. Remittance receipts are expected to surpass $3 billion by the end of the month, marking a historic high for a single month.
Apart from the Eid-related surge, the demand for hundi and hawala—illegal cross-border money transfer channels—has declined following a crackdown on operators after the political changeover, said Mirza Elias Uddin Ahmed, managing director and CEO of Jamuna Bank.
This has diverted more remittances through formal banking channels, he added.