The government has proposed an incentive of two percent on money remitted by expatriate Bangladeshi to encourage bringing in foreign remittance through legal channels.
Prime Minister Sheikh Hasina, who partly read the budget on behalf of Finance Minister Mustafa Kamal, has proposed allocation of Tk 3,060 crore for next fiscal year to this end and to mitigate the burden of increased expenses in sending foreign remittances
“This will significantly increase the remittance flow through legal channels and discourage the ‘hundi’ business,” she told the parliament.
PM said the expatriate Bangladeshi workers and their families often face financial losses and risks due to accidents and various other cause as there are no insurance facilities available to them.
Preparations have been taken to bring the expatriate workers under the insurance scheme, which will be implemented shortly, she said.