The Bangladesh Army-run Trust Bank received the country’s second highest remittance in August last year. Which has increased almost three and a half times or 243 percent compared to the previous month of July. This information was revealed in the report published yesterday about remittance from Bangladesh Bank.
According to sources, the country received 8.46 million dollars in remittances through Trust Bank last July. But last month the amount of remittance exceeded 29 million dollars. In other words, the bank’s remittance collection has increased by 243 percent within a month. Before this, so many remittances were never seen coming to the country through the bank.
The opposite picture is seen in the case of Islami Bank Bangladesh Plc. More than one-fourth of the country’s total remittance flow came through the bank. But in August, Islami Bank’s share in remittances fell to 18 percent. Even in July, the country’s largest bank received remittances of 450 million dollars. In August, it further decreased to 400 million dollars.
According to the Central Bank, Islami Bank Bangladesh Plc received the highest number of remittances in the country in August despite a decline in remittance collection. Trust Bank brought the second highest remittance. BRAC Bank has risen to the third place by bringing remittances of 206.6 million dollars. Janata Bank and Mutual Trust Bank are in fourth and fifth place respectively. Among them, the remittance flow increased in August in all four banks except Islami Bank.
Officials of Islami Bank said that remittance flow decreased for a week after August 11, but it returned to normal at the end of the month. After the reorganization of the board of directors, the remittance flow of the bank is increasing as well as the deposit growth is also increasing.
By reviewing the data of Bangladesh Bank, it can be seen that in the first three days of August, only 95.6 million dollars of remittances came into the country. That is, at that time only 3 million dollars of remittances came every day. On August 5, Sheikh Hasina’s government collapsed in the face of a student coup. Since then the remittance flow in the country increased. From August 4 to 10, expatriates sent 38.71 million dollars. From 11th to 17th August, 65 million 14 million dollars came. From August 18 to 31, expatriates sent 108 million 71 million dollars.
The growth in remittances has had a positive impact on Bangladesh Bank’s foreign exchange reserves. In August, the country’s reserves increased rather than eroded. According to the data of the central bank, according to international standards (BPM6) last July 31, the country’s reserves were 2 thousand 48 crores or 20.48 billion dollars. On August 28, the reserves rose to $20.59 billion. But in July, 130 crores or 1.30 billion dollars were lost from the reserves.
