A more comprehensive analysis is needed to gather a complete picture of the hundi business.
Unpredictability has become the new normal in a world afflicted by the forces of deglobalisation amidst rising geopolitical tensions.
The Bangladesh Financial Intelligence Unit (BFIU) yesterday froze 230 accounts of several mobile financial service providers as the accountholders were allegedly involved in hundi.
High inflation and low export and remittance earnings are a major cause for concern at the moment.
Remittances sent by expatriate Bangladeshis are one of the vital sources of foreign currencies for the country’s economy.
The central bank’s deviation from the policy commitment is the main reason why hundi-makers mushroomed at home and abroad.