The country’s inward remittance hit a record $345 million in a single week before the Eid-ul-Fitr, totalling the amount in the first half of August to $747.84 million.

Bangladesh Bank (BB) Executive Director Dasgupta Asim Kumar told daily sun that apart from the formal banking channel, a huge amount also entered the country through informal channel during the period.

"The amount flowed into the country through informal channel could not be determined but we can double the remittance inflow through formal channel by offering improved services to the remitters," the BB official said.

He said every remitter has sent extra penny to near and dear ones on the occasion of the Eid-ul-Fitr.

In July, the country received $1024.69 million as remittance, according to Bangladesh Bank (BB) data.

In the same month of previous FY 2011-12 and FY 2010-11, the country received $1015.58 million and $ 857.31 million respectively in inwards remittance.

The BB record shows that the country has experienced a robust growth in remittance inflows in the entire FY 12, except for the months of September and November 2011.

In November and September, remitters have sent home $908.79 million and $ 855.44 million respectively, which were lower compared to the rest 10 months of the year.

“Remittance inflow in those months was lean for being the immediate next months to two major festivals – Eid-ul-Fitr and Eid-ul-Azha,” a BB official said.

In FY 2011-12, the country received a total of $12843.43 million as remittance.

The country’s remittance earnings reached $11650.31 million in 2010-2011 fiscal, according to BB statistics.

News: Daily Sun/Bangladesh/24-Aug-12