8 Bangladeshi Bank collect zero remittances despite record flow

Even though Bangladesh witnessed record-breaking remittance inflows in recent times, eight banks failed to attract a single penny from expatriates.

The banks with zero remittance receipts include two state-owned institutions – Bangladesh Development Bank (BDBL) and Rajshahi Krishi Unnayan Bank (RAKUB); three private banks – Citizen Bank, ICB Islamic Bank, and Padma Bank; and four foreign banks – Habib Bank, National Bank of Pakistan, State Bank of India, and Woori Bank, accoridng to Bangladesh Bank sources.

Expatriates sent $1.78 billion in remittances in first 19 days of April. Bangladesh received a historic US$3.29 billion in remittances ahead of Eid, and the momentum has continued even after the festival.

In the first 19 days of April alone, expatriates sent US$1.78 billion, with an average daily inflow exceeding US$90 million (approximately Tk 1,104 crore).

But, none of these eight banks received any portion of this remittance during the period.