Dhaka receives major share of remittances in current fiscal

Dhaka district has emerged as the prime recipient, capturing the lion's share of expatriates' income remittances so far in the current fiscal year.

Bangladesh Bank (BB) revealed a report on the district-wise distribution of inward remittances on Monday,

This trend underscores either the concentration of expatriates' families in Dhaka or the prevalence of their bank accounts in the capital's branches.

Following Dhaka, Chittagong secures the second position, with Sylhet and Comilla trailing closely behind in third and fourth places, respectively.

From July 2023 to February 2024, expatriates contributed significantly to Bangladesh's economy, sending a total of $15.07 billion in remittances, with $2.16 billion being sent in February alone.

In January, the figure stood at $2.10 billion.

Dhaka district received the highest remittance inflow during this period, totaling $5.23 billion, while Chittagong received $1.42 billion.

Sylhet, Cumilla and Noakhali received $870 million, $810 million and $460 million, respectively.

Additionally, Brahmanbaria, Feni, Moulvibazar, Chandpur, and Narsingdi received remittances ranging from $250 million to $380 million.

BB officials anticipate further remittance inflows from districts with significant expatriate populations.

However, concerns arise as some expatriates are reportedly transferring wealth abroad instead of remitting income, leading to an increase in money laundering activities.