Muhith hints at cutting remittance transfer cost

Staff Correspondent. Sylhet | Update:

MuhithThe trend of settling of increasing number of Bangladeshis abroad is a major reason for decline in the inflow of remittances into the country, thinks finance minister AMA Muhith.

In the backdrop of decreasing foreign exchange earnings from expatriate Bangladeshis, the minister on Saturday said the cost of remittance transfer might be reduced soon to encourage remitters to send money back home.
Muhith made the hint while talking to newsmen after inaugurating the newly constructed fountain in Naiyorpul area of Sylhet city.
He added that the government might even reduce the remittance transfer fee from the next month.
Dwelling on the Bangladeshis’ deposits in Swiss banks, Muhith said such siphoning off is common around the world.
“However, the rate is higher in our case. We are also responsible for the tendency - The official rate of land is kept low,” the minister pointed out.
He added that the government would raise the price of land so that there is no lesser scope for creating black money.

According to Bangladesh Bank report, the remittance inflow into Bangladesh hit record low in last six years as it showed 14.46 per cent decline in the past financial year.

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