<div><br></div><div>According to Bangladesh Bank, Bangladesh received $1.59 billion inward remittance in November, showing a slight increase in expatriate income flow.</div><div><br></div><div>Though the central bank is expecting a sharp rise in inward remittance flow after announcing half a dozen facilities including cash incentives and free-of-cost remittance-sending opportunities, the response is not satisfactory yet.</div><div><br></div><div>Expatriate income or remittances have been steadily declining amid the foreign exchange crisis.</div><div><br></div><div>The expatriates sent $1.52 billion in October. In July and August, Bangladesh received $2.09 billion and $2.03 billion respectively.</div><div><br></div><div>Since September the flow of inward remittance has been declining. A rumor spread among the expatriates that sending money to Bangladesh through banking channel is not secure, which has apparently impacted the remittance flow, reports UNB.</div><div><br></div><div>According to Bangladesh Bank (BB) data, the country received inward remittance of $8.78 billion in July-November of FY 23 while the figure was $8.60 billion in the same time of FY 22. It shows that expatriates sent more than $18 billion in remittances compared to the previous fiscal year.</div><div><br></div><div>BB spokesperson Md Abul Kalam Azad said to media that in order to increase remittance inflow, the central bank has increased the exchange rate of US dollars for remittance.</div><div><br></div><div>In addition to 2.5 percent hassle-free incentive for remittance, several banks also provide additional incentives to attract foreign exchange, he said.</div><div><br></div><div>Banks will not charge any fee for sending remittances through the legal channel, he said.</div><div><br></div><div>bnbd24/fas</div>