DECCA, 17 November 2020, (TON): Bangladesh Remittance inflow of 2020-21 fiscal year is increased to 42 percent till mid-November. The Covid19 situation damaged All sectors of the country. But the recorded rate of remittance inflow is getting higher than before.

In the current fiscal year,from July to 12^th November, about US$ 10 billion standsas entered remittance amount by the Bangladeshi migrants. In comparison, the rate was about US$ 7 billion in the previous fiscal year.

Remittances from more than 10 million nationals abroad are very significant for Bangladesh, and along with the garment, exports are the central basis of foreign exchange. Saudi Arabia has been the highest remittancesending country, followed by UAE, Qatar, Oman, Bahrain, Kuwait, Libya, Iraq, Singapore, the US, and the UK. Coronavirus has been hitting world trade horribly, but the Bangladeshi migrants continue to send remittances to fuel the economy. Bangladesh's government announced many initiatives to stimulate citizens to send remittances continuously. Recently in the current fiscal year, the government has announceda 2percent cash stimulus package for the remittancesending migrants.

The Finance Minister of Bangladesh, A.H.M. Mustafa Kamal,highlighted in a press briefing, “ the government a 2 percent stimulus package for formal remittance sending. Many criticized the initiative, but the remittance inflow is increasing day by day”.