Remittance inflow declines in September

Remittance inflow declines in September

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Dhaka: The remittance inflow to the country has declined by $141 million as it received $1.043 billion in September while it was $1.183billion in August.World Bank’s chief economist Zahid Hossain attributed this decline to the fall of oil price in the middle-east countries where a large number of Bangladeshi workers are employed.”The countries made a cut in workers’ salary, bonus and overtimes because of decline in their earnings from petroleum export. This is the major reason for this remittance fall,” he told a recent press conference. UNB News Agency Reported.
According to Bangladesh Bank statistics, six state-owned commercial banks – Agrani, Janata, Rupali and Sonali – received $308.95 million from expatriate Bangladeshis while two state-owned specialised banks-Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank-got $11 million.
The maximum remittance came through private commercial banks as they received $712.12 million while the nine foreign banks $10.94 million.Among the private commercial banks, as usually Islami Bank Bangladesh Limited (IBBL) led the chart as it received $252.58 million, followed by Dutch-Bangla Bank with $48.92 million.
Of the six state-owned banks, Agrani Bank received $113.90 million, Sonali Bank $93.09 million, Janata Bank $83.18 million and Rupali Bank 18.69 million, BASIC Bank .09 million while BDBL failed receive any remittance.
Among other private banks, National Bank received $49.93mn, while Uttara Bank $41.97 mn, Pubali Bank $37.31 mn, Bank Asia 30.21mn, Mercantile Bank 24.84 mn, Prime Bank $21.22 mn, Social Islami Bank 19.98mn, AB Bank 17.24 mn, Al Arafa Islami Bank 17.24mn, Brac Bank 22.02 mn, NCCBL 17.05 mn, Mutual Trust Bank 15.83mn, Southeast Bank $15.99 mn, and The City Bank 11.76mn.
The poorest performers in remittance earning, which earned zero remittance, include State Bank of India, Habib Bank of Pakistan, National Bank of Pakistan and CITI Bank NA while the banks which received below one million US dollar include ICB Islami Bank, Meghna Bank, Midland Bank, Modhumoti Bank, NRB Bank, NRB Global Bank, NRB Commercial Bank, One Bank, and Farmers Bank.

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