Islami Bank Plc and Social Islami Bank Limited (SIBL) were the top remittance collectors in April as $2.4 billion was sent to Bangladesh by expatriates in the month.
A total of around $500 million in remittances were sent through Islami Bank PLC in the month of April this year, according to Bangladesh Bank data released on Thursday (2 May).
SIBL, BRAC Bank, Janata Bank and National Bank respectively stood at the second, third, fourth and fifth positions.
The central bank said the growth in remittance flow in April compared to March was 2.16%.
Earlier, remittances fell by 8.46% in March compared to February.
“Decrease or increase in remittance flow is a regular and normal phenomenon. However, the remittance flow is increasing every year. Remittances help stabilise the supply and exchange rate of foreign currency in the country and strengthen reserves,” said a top official of the Bangladesh Bank.
Meanwhile, central bank sources said that if the 'hundi' syndicates are not stopped, the flow of remittances through the legal route will decrease.
Meanwhile, in the first 10 months of the current financial year, remittance inflows saw a 7% increase compared to last year.
According to sources, a total of $1.99 in remittances came to the country in March. The amount of remittance in February was $2.16 billion.
