Eight Banks Get No Remittance Amid Record Inflows

Despite Bangladesh witnessing historic highs in remittance inflows from expatriates, eight banks—including two state-owned institutions—failed to receive a single dollar during the recent surge.

The banks that recorded no remittance receipts include Bangladesh Development Bank (BDBL) and Rajshahi Krishi Unnayan Bank (RAKUB) from the state-owned sector; private lenders Citizen Bank, ICB Islamic Bank, and Padma Bank; and four foreign banks—Habib Bank, National Bank of Pakistan, State Bank of India, and Woori Bank.

Bangladesh saw a record-breaking US$3.29 billion in remittances in the lead-up to Eid-ul-Fitr. That upward trend has continued, with expatriates sending US$1.78 billion in the first 19 days of April alone—averaging over US$90 million (approximately Tk 1,104 crore) in daily inflows.

However, none of this substantial sum was channeled through the eight banks mentioned, raising questions about their remittance management strategies, global partnerships, and outreach to overseas Bangladeshis.

Analysts suggest that factors such as lack of efficient correspondent banking relationships, unattractive remittance incentives, or limited overseas presence may be contributing to these banks’ inability to capture any portion of the growing remittance market.