3 percent cash incentive for sending remittances to Agrani Bank - daily joypurhat

State-owned Agrani Bank is giving special incentives on remittances to stay by the side of expatriates at the time of coronavirus (Covid-19) epidemic. The government is giving 2

percent cash incentive for sending remittances to the country legally. However, sending remittances to Agrani Bank is getting one percent more incentive. In other words, if you send remittance to this bank, you will get 3 percent cash incentive.

The bank's managing director (MD) Mohammad Shams-ul Islam said the current government has announced a 2 per cent incentive on remittances in the last 2019-20 fiscal year. It has also been effective in the current financial year. This is a timely step.

He said that in addition to the government's incentives, Agrani Bank is giving 1 per cent more incentives on remittances. In other words, if an expatriate sends remittance through Agrani Bank, he will get one percent more incentive along with the 2 percent incentive announced by the government. This incentive is being given to increase the flow of remittances. This incentive has been introduced since the last month of Ramadan and will continue till the next Eid-ul-Azha. At this time, expatriate Bangladeshis will enjoy this facility if they send remittances to Agrani Bank.

"We have taken such an initiative to maintain this continuity," said Shams-ul Islam, a leading bank in remittance collection among government banks. Agrani Bank's Singapore exchange office has also developed an app to commemorate the birth centenary of Bangabandhu Sheikh Mujibur Rahman. Singaporean expatriates are able to send remittances to the country through apps without coming to the bank. As a result, our bank continues to collect remittances during the epidemic.

It is learned that most of the remittances from state-owned banks in the just-concluded financial year came through Agrani Bank. In the 2019-20 financial year, remittances through the bank came to 17 crore 26 lakh dollars. Forty percent of the remittances received by the six state-owned banks came through Agrani Bank. In the last financial year, remittances to state-owned banks reached ৪ 435.46 billion.

Despite the coronavirus epidemic, a record amount of remittances has been collected in the country. According to the central bank, in the just-concluded 2019-20 fiscal year, the expatriates sent a total amount of 1,620.49 million dollars to the country. The amount in domestic currency (75 rupees per dollar) is one lakh 54 thousand 742 crore rupees. Never before has so much money come to the country. In other words, this is the year of highest remittance collection in the history of the country. Earlier, in the 2018-19 financial year, the remittance in the country was one thousand 742 crore dollars. As a result, remittances have increased by 16 crore 53 lakh dollars or 15 thousand crore taka in the just ended financial year as compared to the previous financial year.

According to the central bank, remittances reached ৮ 183.25 billion in June, the last month of the just-ended fiscal year. Which is ৬ 467.3 million more than the same period last year. In June last year, remittances came to 136 crore 42 lakh dollars. Last June's ৮ 173 million remittance was the highest in a single month. The previous record for the highest monthly remittance was ৭ 164.61 billion in May last year.

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