KSA largest source of remittance

Saudi Arabia has been the largest source of remittance as non-resident Bangladeshis (NRBs) living there sent $2.694 billion from the kingdom in 11 months (until May) of the FY 2015-16.

According to available statistics at Bangladesh Bank, Saudi Arabia is followed by the United Arab Emirates (UAE) as NRBs residing in the gulf country remitted $2.450 billion during the same period.

Both the countries in the Middle-East constantly maintain their highest position in sending remittance by Bangladesh expatriates. As per the central bank data, Bangladesh received $3.345 billion and $2.823 billion respectively from Saudi Arabia and the UAE in the FY 2014-15.

Bangladesh received a total of $7.729 billion from all eight countries in the Middle-East, including Saudi Arabia and UAE. The other six remittance sending countries in the region are Bahrain ($447.91 million), Kuwait ($929.35 million), Oman ($814.50 million), Qatar ($380.45 million), Libya ($11.82 million) and Iran ($0.16 million).

The data show Bangladesh received third highest remittance of $2.212 billion from the USA until May in the FY 2015-16 while Malaysia, with $1.204 billion, has been in the forth position during the period.

In the same period, Bangladesh received remittances of $758.62 million from the UK, $348.90 million from Singapore, $304.94 million from Italy, $61.46 million from Australia, $57million from South Korea,  $23.16 million from Hong Kong, $19.79 million from Japan and $22.96 million from Germany. The total remittance from other countries stood at $721.05 million during the same period. It is believed that about 10 million non-resident Bangladeshis are now living in over 150 countries.