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Remittance plunges to 41-month low in September 










Amid the ongoing dollar crisis, the country’s remittance earning plunged to a 41-month low with a 13 per cent year-on-year drop in September.

Expatriates remitted $1.34 billion in September through legal channels – the lowest since April of 2020, when the country received $1.09 billion in remittance.

Bangladesh Bank released the latest data on remittance on Sunday.

The Bangladesh Bank (BB) is taking action against 10 banks for selling dollars to importers at higher prices than declared. As part of this, the central bank has initiated the process to fine the heads of the treasury departments of these banks. In the letters sent to these banks on Monday, the BB stated that the heads of the treasury department have no way to evade responsibility. 

The treasury department of the banks oversees the demand and supply of dollars and taka in the bank. In some banks, officials of the rank of deputy managing director are the heads of the treasury department.


According to various sources, the 10 banks facing investigation are Mercantile Bank, Premier Bank, BRAC Bank, Modhumoti Bank, Midland Bank, Exim Bank, Social Islami Bank, Al-Arafah Islami Bank, Shahjalal Islami Bank, and Trust Bank. The sources also suggest that the number of banks under investigation may increase in the future.