Bangladesh: Downtrend in remittances from expatriates

uesday, 16 September 2008

According to reports from Bangladesh Bank, remittances from expatriate Bangladeshis have fallen by about Taka 600 crorer between July and August this year. The key reason cited for such a drastic fall, in remittances, is the unrest created centering Bangladeshi workers in Kuwait and Saudi Arabia over the last few months which led to the expulsion of some 1500 Bangladeshi workers from these two countries. Although the numbers expelled are not very significant yet it is a source of uncertainty and lack of confidence on the Government of Bangladesh to look after the interests of its own citizens working abroad . That uncertainty and lack of confidence is perhaps leading expatriate Bangladeshis to slow down on sending back home the money they usually send. [Read more]