Remittances fall due to low oil prices, US polls, Brexit: speakers

Many return after being cheated

Staff Correspondent | Published: 01:44, Dec 29,2016


Remittance inflows fell substantially although migration of workers increased this year, according to Refugee and Migratory Movements Research Unit’s annual report, published Wednesday.
In terms of remittance, Bangladesh’s position may fall to 10th position this year from its previous year’s seventh position, as per World Bank Fact book report, said Tasneem Siddiqui, founding chair of RMMRU.
She was presenting the report at a news conference at National Press Club.
She said remittance inflow fell by about 11 per cent this year while labour migration increased by 35 per cent. In other words, about 7.5 lakh workers have got overseas jobs this year as against 5.5 lakh, last year.
Tasneem, also a professor of political science at Dhaka University, said Bangladesh has received remittances worth $12.65 billion from January to November. The economy, however, fetched $15.31 billion in remittances, last year, she added.
The causes of lessening of remittances have been attributed to the fall in oil prices in the Middle East, a levy imposed by Malaysian government, US elections and Brexit, the speakers said.
A remittance is a transfer of money by a foreign worker to an individual in his or her home country. 
Noted constitutional lawyer Shahdeen Malik who presided over the press conference, said, money transfer by banks and other formal windows fell but might have increased in informal ways.
The government has failed to accrue successes while grooming skilled workers for the international job market, he said.
Moreover, many workers came home back after being cheated abroad, he said, adding that the government cannot avoid its responsibilities for protecting the deceived workers.
The lawyer said the government should break the nexus of criminals who cheat out-bound workers.

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