United News of Bangladesh

Bangladesh, which depends heavily on remittances from the Middle East, is slowly losing its footing there, raising worries about falling inflows and bigger risks ahead. After the fall of the Hasina government in 2024, remittance inflows initially surged to record highs, but recent trends show the flow is shrinking, particularly from Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain. According to the latest Bangladesh Bank data, remittances stood at $2.42 billion in August, down from $2.47 billion in July and $2.82 billion in June. Year-on-year figures still reflect growth, but the recent downward trajectory points to the turbulence in Middle Eastern markets as a key driver. “Bangladesh’s labour market in the Middle East is tightening. These countries are increasingly recruiting skilled workers from India and Nepal. On top of that, the aftermath of the Iran-Israel war and the recent Israeli attacks in Qatar have also had repercussions. All these regional instabilities are directly affecting Bangladesh’s economy,” said Mahfuz Kabir, Research Director at the Bangladesh Institute of International and Strategic Studies (BIISS). Forced merger of five Shariah banks in Bangladesh faces daunting challenges Saudi Arabia remains Bangladesh’s single largest source of remittances, hosting nearly three million Bangladeshis. More than 628,000 workers migrated there in 2024 alone, according to the Bureau of Manpower, Employment, and Training (BMET). Yet, despite the sheer numbers, opportunities are shrinking, leaving many migrants struggling to survive and remit. Every year, tens of thousands return from Saudi Arabia after failing to secure stable work. The Wage Earners’ Welfare Board reported over 50,000 workers were forced to return in 2024 through the “outpass” process, compared to 58,000 in 2023. Many migrants spend large sums to secure jobs, only to face months or years without proper employment or residency permits (aqama). Ebaydul Islam from Jhalakathi, who returned from Saudi Arabia last year, shared his ordeal, “I was promised an aqama within three months. Even after a year, it never came. The job I was promised never materialized either. I had to live like an undocumented worker, hiding every day.” Another returnee, Mirajul Hawlader, echoed similar frustrations, “Getting an aqama for Bangladeshi workers is now like chasing a golden deer. If I can’t even send money home to my family, there’s no point in staying abroad.” Bangladesh on the cusp of a fintech boom, if challenges addressed  The declining inflows from Saudi Arabia are reflected in Bangladesh Bank’s data. In May, remittances from the kingdom stood at Tk 6,524 crore, dropping to Tk 5,763 crore in June, Tk 5,200 crore in July, and further down to Tk 4,800 crore in August. “Saudi Arabia is restructuring its labor market with new skill benchmarks. Without meeting these requirements, workers face difficulties in securing jobs or residency permits. Bangladesh must prioritize skill development. Continuing to send unskilled laborers will only cause long-term damage,” said Marina Sultana, Director of Refugee and Migratory Movements Research Unit (RMMRU). The United Arab Emirates (UAE), another major remittance hub, is emerging as an even bigger challenge. Reports suggest the UAE could stop issuing work visas for Bangladeshis starting in 2026, while visa complications have persisted since last year. Bangladeshi workers already face restrictions on visa transfers and family visas. In March this year, remittances from the UAE were Tk 6,201 crore, but they fell to Tk 4,540 crore in April, Tk 3,461 crore in July, and Tk 3,382 crore in August. Economists warn that a full visa suspension could trigger a sharp collapse in remittance inflows from the UAE. “We cannot afford to delay. Dhaka must engage Abu Dhabi in urgent diplomatic dialogue. Losing the UAE market would severely weaken Bangladesh’s overall foothold in the Middle East,” Mahfuz said. Qatar, too, has shown declining inflows. Remittances dropped from Tk 1,432 crore in June to Tk 1,288 crore in July and further to Tk 1,113 crore in August. Experts call for strategy, skilled workforce to lift Biman from setbacks Oman, which banned Bangladeshi workers in 2023, shows a similar downward curve. While remittances briefly surged past Tk 2,000 crore in January this year, they started falling in June and came down to around Tk 1,700 crore by August. Experts warn that unless urgent steps are taken, Bangladesh could face deeper setbacks in remittance inflows from the Middle East. “The government must act now to safeguard the market, even amid regional instability,” Mahfuz observed. Marina Sultana added, “Improving worker skills is non-negotiable. Authorities also need to investigate why so many returnees fail to secure jobs and design programs to enhance the productivity of those who remain abroad.”  

Bangladesh recorded export earnings of US$ 8.69 billion during the first two months (July–August) of the current fiscal year 2025–26, reflecting a 10.61 percent growth compared to the same period during the previous fiscal year. Despite this overall positive performance, the year-on-year growth declined by 2.93 percent in August 2025. Export earnings for August 2025 stood at $3.92 billion, slightly lower than the $ 4.03 billion achieved in August 2024. Expatriates sent $2.08 billion in remittances in 27 days of August US tariffs disrupted global demand and supply chains, causing a fall in supply orders from international buyers. After a successful tariff negotiation with Washington, export orders surged in Bangladesh, businesses said. The Export Promotion Bureau (EPB) noted that while export performance in the opening months of the fiscal year indicates resilience, the slowdown in August underlines the challenges facing Bangladesh’s export sector in the context of global demand fluctuations and evolving market dynamics. Bangladesh Bank reconstitutes Premier Bank board over poor governance  

Expatriates sent a record US$30.32 billion in remittances in the just-concluded 2024-25 fiscal year, marking a 26.8 percent year-on-year increase from the US$23.9 billion received in FY2023-24. According to the latest data from Bangladesh Bank, the historic amount was received between July 2024 and June 2025, making it the highest annual remittance inflow in the country’s history. In June 2025 alone, the remittance inflow stood at US$2.81 billion, an 11 percent rise compared to US$2.53 billion in June 2024. The highest single-month remittance in FY2024-25 was recorded in March, when inflows surged past the US$3 billion mark, driven by Eid-ul-Fitr-related transfers. Bangladesh received $2.7 billion remittances in 29 days of June This not only marked the peak for the fiscal year but also set a new monthly record for Bangladesh. Banking sector insiders attributed the surge to a growing preference among expatriates for using formal banking channels over informal ones such as hundi.  They believe the positive trend will help ease pressure on the country’s foreign exchange reserves and support import payments. The inward remittance flow throughout FY2024-25 was as follows: June: US$2.81 billion May: US$2.97 billion April: US$2.75 billion March: US$3.29 billion February: US$2.53 billion January: US$2.19 billion December: US$2.64 billion November: US$2.20 billion October: US$2.39 billion September: US$2.40 billion August: US$2.22 billion July: US$1.91 billion    

Expatriates sent US$2.7 billion in remittances during the first 29 days of June, pushing Bangladesh’s total remittance earnings to $30.21 billion so far this fiscal year. Blessed by strong remittance inflows and foreign aid, Bangladesh’s gross foreign exchange reserves rose to $31.68 billion on June 30, though the BPM6-compliant figure stood at $26.66 billion on the same day. According to the Bangladesh Bank's latest update, June 01-29 in 2024, expatriates sent $2.37 billion remittance. Accordingly, Bangladesh remittance earnings saw a growth by 14.1 percent year-on-year. Remittance crosses $30bn on June 28, setting new record July-June 29, of the previous fiscal year, FY2023-24, Bangladesh received $23.74 billion remittance. Compared to this, while at the same time of FY2024-25, remittance earnings reached $30.21 billion. Compared to this, remittance earnings saw a growth of 27.2 percent. The inward remittance flow in the FY2024-25 is as follows: · June (1-29) 2.7 billion · May $2.97 billion · April: $2.75 billion · March: $3.29 billion · February: $2.53 billion. · January: $2.19 billion · December: $2.64 billion · November $2.2 billion · October: $2.39 billion · September: $2.4 billion · August: $2.22 billion · In July: $ 1.91 billion 

Bangladesh received US $1.15 billion remittance in  the first 14 days of June 2025, a slowdown of 30.1 percent year-on-year. Despite this slide, Bangladesh’s remittance earnings grew by 24.5 percent in the current fiscal year 2024-25. Bangladesh received $28.65 billion remittance so far in the FY2024-25, which was $23.01 billion in the previous FY2023- 24. Remittance inflow stays strong as BD expats send $1.61bn in 17 days of May According to Bangladesh Bank's latest update, the expatriates have sent $1.15 billion remittance in 14 days of June 2025, which was $1.64 billion in June 2024. Last year, Eid-Ul-Azha was celebrated in the third week of June last year. As a result, remittance in that time was 30.1 percent higher. The expatriates sent $27.5 billion remittance in 11 months (July-May) of the current FY2024- 25. The scenery of 11 months remittance is as follows- *May $2.97 billion *April: $2.75 billion *March: $3.29 billion *February: $2.53 billion. *January: $2.19 billion *December: $2.64 billion *November $2.2 billion *October: $2.39 billion *September: $2.4 billion *August: $2.22 billion *In July: $ 1.91 billion

Bangladesh witnessed a notable surge in remittance inflows in April, with expatriates sending US$2.75 billion, marking the second-highest monthly remittance in the country’s history. According to data from Bangladesh Bank, $144 million was received on April 30 alone. The total remittance inflow for the month (April 1–30) reflects a significant 34.6 percent increase compared to the same period last year. In the first 10 months of the current fiscal year 2024–25 (July to April), Bangladesh received a total of $24.54 billion in remittances. By comparison, the inflow during the same period of the previous fiscal year (FY2023–24) was $19.11 billion, showing a 28.3 percent year-on-year growth. Analysts note that the continued strong performance of remittance earnings, even after Eid-ul-Fitr, is a welcome boost to the country’s economy. Bangladesh received $2.61 billion remittance in 29 days of April March recorded an all-time high of $3.29 billion in monthly remittances. Notably, every month of the current fiscal year has seen remittance inflows exceeding $2 billion, underscoring migrant workers' growing confidence in formal banking channels. According to central bank sources, this upward trend is being driven by government incentives, strict enforcement against illegal money transfers (hundi), and the availability of convenient banking services for expatriates. In parallel, a steady exchange rate of Tk 122 per US dollar and positive export growth have also contributed to the encouraging trend. Bangladesh’s gross foreign exchange reserves reached a record high of $48.06 billion in August 2022. But, due to political instability and heavy dollar sales, the reserves declined to $20.39 billion by mid-2024. Since the interim government assumed office, Bangladesh Bank has shifted from selling dollars to purchasing them from the market, which is aiding the recovery of reserves. Economists believe that the ongoing rise in remittance flows will contribute to macroeconomic stability and reduce the country’s reliance on foreign loans. The remittance figures for the first 10 months of FY2024–25 are as follows: April: $2.75 billion March: $3.29 billion February: $2.53 billion January: $2.19 billion December: $2.64 billion November: $2.20 billion October: $2.39 billion September: $2.40 billion August: $2.22 billion July: $1.91 billion

Bangladesh received US$ $2.61 billion remittances in 29 days of the current month, April. At the same period of the previous year, the expatriates sent $1.91 billion remittance. Expatriates sent $1.78 billion in remittances in first 19 days of April According to the latest report of Bangladesh Bank, in the first 29 days of April expatriates sent $2.61 billion remittance. The remittance inward trend saw a growth by 36.6 percent in 29 days of April 2025, compared with April 2024. Bangladesh so far (till April 29) received $24.39 billion remittance, which is already higher than what was received during the entire 2023-24 fiscal.

The strong inflow of remittances has continued into April, with expatriates sending $1.78 billion in the first 19 days of the month. This follows a record-breaking $3.29 billion received in March. Bangladesh Bank’s latest update revealed that Bangladeshi expatriates have sent around US$ 1.72 billion in inward remittance in 1-19 days of April. In April last year, the expatriates sent $2.04 billion remittance, while in the 19 days of April this year sent $1.78 billion remittance. Accordingly, Bangladesh received $90.45 million remittance so far in each day of April. The state-owned commercial banks received a total of $639.7 million, two specialised banks received $90.26 million, private banks received $985.42 millio,n and foreign banks received $3.35 million. Among the banks, Solani Bank Plc received the highest $278.09 million, Islami Bank Bangladesh PLC received the second highest $266.88 million, and Agrani Bank PLC received the third highest 183.41 million in 19 days of April. Bangladesh received $1.05 billion in remittances in first 12 days of April The expertise sent $21.77 billion remittance in the 9 months (July-March) of the current fiscal year FY2024- 25. On the other hand, remittances of $17.07 billion were received in the first 9 months of the previous FY2023- 24. March $3.29 billion February $2.53 billion. January $2.19 billion December $2.64 billion November $2.2 billion October $2.39 billion September $2.4 billion August $2.22 billion In July $ 1.91 billion

Bangladesh received remittances amounting to US$1.05 billion in the first 12 days of April, according to the latest data released by Bangladesh Bank. This amount reflects a daily average remittance of $87.69 million sent by expatriates during the period. While the flow remains significant, it marks a slight decline compared to the same timeframe in March, when the country recorded its highest remittance inflow in recent months. Bangladesh receives $18.49 billion in remittances over 8 months In March, remittances totalled $3.29 billion, averaging $109.85 million per day. Despite the dip, remittance continues to be a key source of foreign currency for the country’s economy, experts said.

Bangladesh Bank has delivered positive news regarding the country’s foreign exchange reserves, as it surpassed $25 billion before the end of March, following a record inflow of remittances this month. According to data released by the central bank on Thursday (March 27), the country’s gross reserves have risen to $25.44 billion. Bangladesh Bank re-fixed MFS transaction limit This comes after a significant increase in remittance inflows, which reached $2.94 billion in the first 26 days of March – the highest for any month in the country’s history. However, as per the International Monetary Fund (IMF) methodology under the Balance of Payments and International Investment Position Manual (BPM6), Bangladesh’s net reserves currently stand at $20.29 billion. The net reserve figure is calculated by deducting short-term liabilities from the gross reserves. On March 9, Bangladesh paid $1.75 billion to settle import bills through the Asian Clearing Union (ACU), which temporarily reduced the gross reserves to below $25 billion and the net reserves to below $20 billion. Remittance inflow surges amid forex reserve crisis After this payment, the country’s reserves under the BPM6 standard had dropped to $19.75 billion but have since rebounded above the $20 billion mark. The surge in remittances has played a crucial role in replenishing the reserves, providing much-needed relief to the economy ahead of Eid. Central bank officials remain optimistic that continued inflows will help stabilise the foreign exchange reserves further. Speaking to the media, Bangladesh Bank’s spokesperson and Executive Director, Arif Hossain Khan, confirmed the latest reserve figures and expressed confidence in the country's external financial position. NBR preparing stricter tax exemption policy With the upcoming Eid festivities, the record remittance inflows have brought a timely boost to the economy, offering a sense of optimism amidst ongoing financial challenges.