Despite grim predictions, remittance inflow stayed strong for the fourth straight month as expatriates sent home $2.15 billion last month, giving the country's economy some relief amid the pandemic.
The inflow went up by 9.53 percent from the previous month and 45.64pc from September last year, according to Bangladesh Bank data.
Experts attributed the rise in remittance to the government's two percent cash incentive for remitters.
They said the cash incentive, being disbursed since July last year, has encouraged remitters to send money through the formal channels, at a time when the "hundi" -- an illegal cross-boundary financial transaction system -- has stalled pushing the inflow through the banking sector.
They also said expatriate Bangladeshis in North America and Europe now send in a robust amount of remittance as interest rates on deposits in those countries have dropped to almost zero in the wake of the ongoing coronavirus-driven economic slowdown.
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