Bangladesh receives $958 million remittance in 2 weeks of April

Bangladesh received $958 million in remittance in the first two weeks of April as Bangladeshis working abroad sent more money to families ahead of Eid-ul-Fitr.

According to the Bangladesh Bank data, $134 million came through six state-owned banks in the first 14 days of April.

Apart from this, $26 million came through the specialised Bangladesh Agricultural Bank.

Besides, $794 million came through private sector banks and $3 million came through foreign commercial banks.

In March, the expatriates sent home $2 billion remittance through the banking channel.

The remittance inflow increased in March after six months as bankers offered a maximum Tk117 per dollar when BAFEDA set the rate at Tk107.

Remittance inflow has been recorded below $2 billion since September last year after the Bangladesh Bank reduced the remittance rate to Tk107 from Tk108.

Source: The Business Standard
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Iram Hoque

Mohd. Iramul Hoque (Iram) completed his bachelor’s degree in Industrial Engineering in 2018 from Purdue University.

He joined Deloitte Consulting LLP as a Consulting Analyst based out of New York City having previously worked in similar roles at PricewaterhouseCoopers LLP & Landis+Gyr.

Iram left consulting and returned to Bangladesh to take up the family business. Realizing the opportunity in the capital market in Bangladesh, Iram worked relentlessly to found Columbia Shares & Securities Ltd in 2021.

Md Saiful Hoque

Md. Saiful Hoque received his bachelor’s degree in Civil Engineering from Columbia University in 1986 followed by a master’s degree from Texas A&M University in 1988. Upon completion of his Graduate Degree, he joined Gulf Interstate Engineering Company in Houston, USA serving as a Project Engineer.

He returned to Bangladesh in 1992 to join Columbia Enterprise Ltd., the family business of Shipping and Freight Forwarding services. In addition, he has built flourishing businesses manufacturing Garment’s Accessories and Fast-Moving Consumer Goods.