Remittance inflow hits record $30b in FY25

Infographic: TBS

Expatriate Bangladeshis sent a record $30.04 billion in remittances in the current fiscal year 2024-25, marking the highest amount ever received in a single fiscal year in the country's history. 

This figure reflects a 25.50% increase compared to the $23.74 billion received in the previous fiscal year (FY24), according to the central bank.

Bangladesh Bank Spokesperson Arif Hossain Khan confirmed the data, noting that this surpasses the earlier record of $24.77 billion sent in FY2020-21 during the Covid-19 pandemic, when remittances spiked due to restrictions on informal hundi channels and the introduction of incentive bonds.

In June alone, remittances reached $2.53 billion—up from $2.37 billion during the same month last year.
Bankers attributed the surge to competitive exchange rates offered by banks and tighter government controls on informal remittance channels. 
"Due to the government's strict monitoring, the hundi network has been largely dismantled, prompting more expatriates to use official channels," a senior banker explained.
They further claimed that the weakening of the informal money laundering networks —especially following the fall of the Awami League government — has also contributed to the rise in formal remittance flows. 
"More than $2.5 billion is now coming in every month, a reflection of restored confidence and reduced reliance on illegal channels," the banker added.