Across the developing world, total global remittances from workers to their families (US$240 billion) amounts to more than DOUBLE the value of foreign aid.
Why not create a “Remitter Programme” whereby individuals who remit above a certain amount of US$ are given CIP status in a quick and hassle-free process? Perhaps the NRB conference in Dhaka was a good occasion to announce measures of this kind.
The "stick" of stringent legal action has resulted in tremendous growth of remittances via the official channel. Perhaps we also need a simultaneous "carrot" to “incentivise” additional sources of remittances. Bangladesh should be a savings destination for NRBs, not just a recipient of subsistence funds sent by workers to their villages every month.