A proposed US tax on outward remittances spearheaded by President Donald Trump has alarmed Bangladeshi analysts, who warn it could severely disrupt dollar inflows and push migrant workers toward Hundi, denting foreign currency reserves. “A new tax like this will push more people in that direction.”HIGH STAKES FOR BANGLADESH’S RESERVE STABILITYAccording to Bangladesh Bank, the United States is one of the country’s top remittance sources. The trend was similar in FY2023, when Bangladeshi migrants in the US sent $3.52 billion, again the second-highest after UAE’s $3.76 billion. UNCERTAINTY LOOMSHow sharply US remittances to Bangladesh will fall if Trump’s tax plan becomes law uncertain. “The United States is either the top or second-largest source of remittances for Bangladesh,” he said.

Source: bd News24 May 20, 2025 19:43 UTC