Remittance flow takes a hit in the last quarter of 2021
In November 2021, the flow of remittance saw a decline. A lot of Bangladeshis living abroad are choosing to use illegal channels locally known as "Hundi". This illegal system has led to a fall in remittance.
According to Bangladesh Bank, in November 2021, expatriate Bangladeshis sent USD 1.55 billion, which is 5.48% less than October 2021, and 26% less than the previous year. As the coronavirus restrictions are slowly being lifted around the world, the amount of money transactions through hundi has increased yet again.
A lot of people who lost their jobs abroad weren't actually able to get them back. These are some of the reasons why remittance is in decline.
Today's Star News Plus is based on the reports that were published in The Daily Star.