FY20 budget proposes 2% incentive for remittance
This will significantly increase the remittance flow through legal channels and discourage “hundi” business
The government announces 2 percent incentive on money sent by expatriate Bangladeshis, aiming to bring in more foreign remittance through legal channels.
Finance Minister AHM Mostafa Kamal proposes to allocate Tk3,060 crore this year to make sure that happens.
This will significantly increase the remittance flow through legal channels and discourage “hundi” business, said Kamal in his budget speech in parliament.
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The government plans to bring the expatriate Bangladeshi workers under an insurance scheme soon.
“Expatriate Bangladeshi workers and their families often face financial losses and risks due to accidents and various other causes as there are no insurance facilities available to them,” said the finance minister.
