In the first 24 days of May, remittances totalled $2.25 billion, according to data released by Bangladesh Bank on Sunday. The previous month, March, saw a record $3.29 billion in remittances ahead of Eid-ul-Fitr, the highest ever for a single month. With May’s total crossing the $2 billion mark, Bangladesh has now seen 10 consecutive months of monthly remittances exceeding that threshold. Senior officials at Bangladesh Bank and managing directors of several commercial banks fear that if the tax is enforced, remittances through formal banking channels will decline. Earlier this month, Bangladesh Bank allowed the exchange rate to be determined by market forces.

Source: bd News24 May 25, 2025 16:03 UTC