Initiatives taken by the government to increase remittances
September 25, 20243 Mins Read
Jumbangla Desk: Dr. Asif Nazrul, Adviser on Expatriate Welfare and Foreign Employment, has said that various initiatives will be taken to increase the flow of remittances.

Advisor Dr. Asif Nazrul

On Tuesday (September 24), he highlighted these measures of the Expatriate Welfare Ministry.

Asif Nazrul said that loan was given from Pravasi Kalyan Bank. We have now arranged that direct remittances can now be sent to this bank. Those who have taken loan from this bank can pay the loan by sending direct remittance. We have made an agreement with the private City Bank for this work. As a result, the expatriate can pay off the loan by bringing remittance to Kalyan Bank.

He said, it is expected that harassment of expatriate workers will decrease and remittance flow will increase. Besides Pravasi Kalyan Bank, I have discussed with 12 other banks. We told them expats need loans, give them too. They agreed, but would need a credit guarantee.

The advisor said, the secretary of the ministry has spoken with the governor of Bangladesh Bank. I hope the credit guarantee will be available soon. If it is available these 12 banks. Can give loans to expatriates, which was never before.

Stating that the booth of Pravasi Kalyan Bank will be increased, he said that Pravasi Kalyan Bank's main branch has to come from far away. That is why we are taking initiatives to set up Pravasi Kalyan Bank booths in those branches where Sonali and Agrani Banks are present. We have proposed to set up booths in some remote places of those two banks and places populated by expatriates without spending any more money on manpower. We are hopeful that it will happen.

He also said that the expatriate workers suffered various hardships in the diaspora. There are many complaints about our embassies not performing their duties properly. We have a labor welfare wing, yet we have complaints that they are not working properly. We tried very hard to see that. We print the form and send it to the Labor Welfare Wing at the Embassy.

Asif Nazrul said, from now on we have to regularly report how many complaints have been received, name, address, mobile number of the complainant and what action has been taken regarding the complaint. From here we will directly check that it is working properly or not. If someone in our expatriate welfare wing is not performing properly, the role of servant is not working, we will make changes there if necessary. We will not make any concessions here.

Highlighting more initiatives to increase remittance flow, he said, expatriates send remittances through money exchange. We have talked to those 12 commercial banks, the money they give to the money exchange houses, that bank will pay that money in this country. That is, the money that has to be paid abroad to send remittance will actually be paid to that bank in this country. We do not confirm whether it can be fully observed or not, we have spoken to the manager of Bangladesh Bank. He says he will try his best, he will take a decision considering everything. We think this will further increase the remittance flow. Our expatriate staff will feel more motivated to send remittance directly and not to Hundi.

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Asif Nazrul said, now the maximum limit for buying wage earners bonds is one crore taka. We have proposed to cancel it, it will require Bangladesh Bank's help, we hope Bangladesh Bank will do it. With this there will be no purchase limit, more remittances can be sent through bonds.