Islami banks top the expatriate income, 17 percent alone

Islami banks top the expatriate income, 17 percent alone
October 2, 20244 Mins Read

Nazmul Islam: Islami Bank Bangladesh PLC, which has become the trust of the people, has come to the top of the choice of expatriates in the recently departed month of September. Most expatriate income or remittances have come to the country through this bank, which is about 17 percent of the total expatriate income.

This information was obtained from the report of the central bank.

According to the data, through 60 banks in the country, the income of expatriates came to the country last September 240 million 47 million 90 thousand US dollars. Of this, 70 percent of expatriate income came through only ten banks. Besides, there are seven banks through which no expatriate income has come to the country.

Banks that have come to the top position of expatriate income in September are- Islami Bank, Agrani Bank, Trust Bank, Rupali Bank, Bangladesh Krishi Bank, Janata Bank, City Bank, BRAC Bank, Sonali Bank and Dhaka Bank.

Last September, expatriate income through Islami Bank was 40 million 27 lakh 80 thousand dollars, which is 16.75 percent of the total expatriate income. With this expatriate income, the bank has reached the top position.

Expatriate income through Agrani Bank, which is in the second position, came to 32 crore 21 lakh 20 thousand dollars, which is 13.39 percent of the total income. Trust Bank, which came in third place, received 245.54 million dollars of expatriate income, which is 10.21 percent of the total income. And through Rupali Bank, which came in fourth position, expatriate income came to 113.7 million dollars, which is 4.73 percent of the total income.

The seven banks through which no expatriate income has flowed into the country are Habib Bank, Rajshahi Krishi Development Bank (RAKAR), Bangladesh Development Bank, Community Bank, ICB Islami Bank, National Bank of Pakistan and State Bank of India.

Bangladesh Bank's Executive Director and Spokesperson Husne Ara Shikha said that the growth of expatriate income has increased compared to the past. Due to increasing awareness of sending remittances through legal channels, the trend of sending hundi or illegal remittances has decreased.

In the month of September (September 1 to 30) of this year, expatriate income through private banks was 165 million three hundred fifty thousand US dollars. Besides, 638.2 million 50 thousand dollars came through state-owned banks, 10 million 99 million 80 thousand dollars through specialized banks and 62 million 10 thousand US dollars through foreign banks. Earlier, in the first 21 days of September, expatriate income through private banks was 107 crore 96 lakh 10 thousand dollars.

In addition, 487 million 500 thousand dollars came through state-owned banks, 698 million 30 thousand dollars through specialized banks and 40 million 30 thousand dollars through foreign banks. In the first 14 days of September (September 1 to 14), expatriate income through private banks was 816 million 6940 thousand dollars. In the first 14 days, 29,727,000 dollars came through state-owned banks, 499,980,000 dollars through specialized banks and 30,000,000 dollars through foreign banks.

In the first seven days of September (September 1 to 7), expatriate income through private banks was 41 million 52 million 70 thousand dollars. In the first seven days, 15 million 27 million 90 thousand dollars came through state-owned banks, 1 million 48 million 30 thousand dollars through specialized banks and 16 million 50 thousand dollars through foreign banks.

According to the data of Bangladesh Bank, in the first month of this year, January, remittances came to the country of 211 crore 31 lakh 50 thousand dollars. In February came 216 crore 45 lakh 60 thousand dollars, in March 199 crore 70 lakh 70 thousand dollars, in April 204 crore 42 lakh 30 thousand dollars, in May 225 crore 49 lakh 30 thousand dollars, in June 253 crore 86 lakh dollars, in July 191 crore 37 lakh 70 thousand dollars and 222 crore 45 lakh 50 thousand dollars came in August.

In December last year, remittances came in at 199 crore 12 lakh 60 thousand dollars, in November 193 crore 40 thousand dollars, in October 197 crore 14 lakh 30 thousand dollars, in September 133 crore 43 lakh 50 thousand dollars, in August 159 crore 94 lakh 50 thousand dollars and in July 197 crore 31 lakh 50 thousand dollars remittance has arrived.