Banks withdraw service charge on remittance
06 November 2022, 10:01 pm | Updated: 21 November 2024, 11:08 pm
All Bank of Bangladesh on Sunday decided to withdraw service charge on remittances sent home by expatriate Bangladeshis with a view to gearing up the inflow.
The decision comes at a time when remittances have been falling for two straight months, adding to the pressure on the country’s foreign exchange reserves.
It is hoped that the move can act to boost the inflow of remittances through the official channels.
This decision was taken at a joint meeting of the bank’s top executives, the Association of Bankers, Bangladesh (ABB), and the Bangladesh Foreign Exchange Dealers Association (BAFEDA), held at the Sonali Bank building.
Besides, the foreign exchange houses will be open even on weekends to facilitate remitters for sending remittances to the country. This decision will be effective from (November 7).
