The central bank has directed all authorised dealer (AD) banks to improve the quality of remittance services in order to stem the declining trend of remittance inflow. The directive came in a circular Bangladesh Bank issued on Thursday to the principal offices of all AD banks engaged in dealing with foreign currency exchange. It also said the AD banks have to advertise their remittance services and the government efforts at investment services so that expatriates can get to know about them. Mentionable, the remittance inflow into the country was on the declining trajectory since the beginning of current Fiscal Year 2016-17. Over the 11 months of FY’17, remittance stood at $11.55 billion, which was $13.46 billion in the same period of previous year.

Source: Dhaka Tribune June 15, 2017 19:07 UTC