Bangladesh Bank governor Fazle Kabir on Tuesday requested top remitters to campaign against using ‘hundi’ channel among the non-resident Bangladeshis with a view to increasing the country’s inward remittance.
The country’s inward remittance decreased to $12.76 billion in the last fiscal year 2016-17 from $14.93 in the FY16 due mainly to the growing trend in remitting money through the illegal hundi channel,
he said while addressing the BB Remittance Award-2016 organised by the central bank at the Bangla Academy auditorium in the capital.
The central bank awarded 21 top remitters and top five investors in bonds for the calendar year of 2016.
The BB also honoured four exchange houses owned by non-resident Bangladeshis due to their excellent performance in remitting foreign currencies while it also gave award to five commercial banks, which secured top rank in collecting the remittances.
Kabir termed the remitters as silent contributors of the country’s economic sector.
State minister for finance and planning MA Mannan, addressing the event as chief guest, underscored the need for reducing complexity in official procedure to earn more inward remittances.
He said, ‘All indicators of the GDP growth are now positive and the inflow of inward remittance has recently maintained an optimistic trend.’
Islami Bank Bangladesh managing director Md Abdul Hamid Mia requested the central bank to form a uniform exchange rate between the taka and the dollar for the remitters so that they can choose the legal channel to send their hard-earned money.
Many countries have already introduced such uniform exchange rate to increase their inward remittances, he said.
Among others, Bank and Financial Institutions Division secretary Yunusur Rahman, BB deputy governor SK Sur Chowdhury and Sonali Bank managing director Md Obayed Ullah Al Masud addressed the programme.
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