Bangladesh's Remittance Likely To Touch $7.5 Billion By Fiscal Year's End

Siddique Islam - AHN South Asia Correspondent

Dhaka, Bangladesh (AHN) - The central bank of Bangladesh expects overseas remittances to touch $7.5 billion by the end of the fiscal 2007-08 year, officials say in Dhaka.

This was estimated following a special move, taken by the central bank, to facilitate increased inflow from some selective countries including those in the Middle East, the United States, Malaysia, Singapore and Canada.

Under the move, the Bangladesh Bank (BB), the country's central bank, is giving priority to the local commercial banks in issuing permissions for setting up drawing arrangements with overseas exchange houses in the selective countries. [Read more]