In the first 27 days of December, Bangladesh received a total of USD 2,751.91 million in remittances from overseas workers. However, according to the latest report published by Bangladesh Bank on Sunday, seven banks failed to record any remittance inflows during this period.
The report identifies the banks with zero remittances as follows:
Specialised Bank: Rajshahi Krishi Unnayan Bank (RAKUB)
Private Banks: Padma Bank PLC, ICB Islamic Bank
Foreign Banks: Al Baraka Bank, Habib Bank, National Bank of Pakistan, State Bank of India
An analysis of remittance flows by bank type reveals a clear dominance of private banks, while foreign and specialised banks account for a relatively small share of the total inflows:
| Bank Type | Remittances Received (Million USD) | Share of Total (%) |
|---|---|---|
| State-Owned Banks | 463.59 | 16.8 |
| Specialised Banks | 290.16 | 10.5 |
| Private Banks | 1,992.50 | 72.4 |
| Foreign Banks | 5.92 | 0.2 |
| Total | 2,751.91 | 100 |
The statistics clearly indicate that private banks continue to dominate the remittance sector, accounting for nearly 72% of total inflows. State-owned banks contribute a significant 17%, whereas specialised and foreign banks play a comparatively minor role.
Banking experts attribute the zero remittance records of these seven banks primarily to operational inefficiencies, technological limitations, and complex transaction procedures. They recommend that these banks enhance their transaction management systems, strengthen international remittance networks, and upgrade digital capabilities.
Economists further emphasise that remittances constitute a vital source of foreign currency for Bangladesh. Efficient, secure, and timely receipt and distribution of remittances are therefore essential. Expanding international-standard remittance services in banks with zero inflows is regarded as a pressing challenge.
Bangladesh Bank has highlighted that increasing banks’ remittance handling capacity would strengthen the country’s foreign exchange reserves, investment potential, and overall economic stability. Coordinated efforts by the government and private banks can ensure that remittance inflows are channelled rapidly and securely into the domestic economy. Experts stress that leveraging technology to simplify transactions and improve customer service is crucial for sustaining growth in the remittance sector.