Expatriate Healthcare News: Remittances by Bangladeshi expats 'exceed $9bn'
04/05/10 16:31
Money sent back home by Bangladeshi expatriates working abroad exceeded US$9 billion (£5.9 billion) in the first ten months of the current fiscal year, a report by the Financial Express has suggested.
Remittances from expat workers rose by 16 per cent over the same period of last the fiscal year and were estimated at $921.24 million in April, down by $35.25 million from the previous month due to fewer working days.
The paper quoted an official from the Bangladesh Bank who said the flow of remittances is at a satisfactory level.
"We expect the inflow of remittance to cross $11 billion by the end of the fiscal," he told the paper.
Bangladesh received just under $9.2 billion in remittance between July 2009 and April this year compared with almost $7.9 billion in the previous corresponding period, the paper said.
The release of the figures follows the Bangladeshi government's announcement that incentives would be provided to encourage expatriates to send remittances home through official channels to help increase foreign exchange inflow.
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