Bangladesh plans no-cost remittance sending

Source: Xinhua| 2017-05-14 00:42:18|Editor: yan
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DHAKA, May 13 (Xinhua) -- In the wake of weaker remittance inflows, Bangladeshi Finance Minister Abul Maal Abdul Muhith Saturday said his government is all set to unveil a plan to make remittance sending free of cost in order to boost inflow of one of the key sources of foreign exchange for the nation.

"We're taking measures in this regard so that NRBs (non-resident Bangladeshis) can send their remittances free of cost," Muhith said at a pre-budget discussion meeting with a group of economic journalists on Saturday in Dhaka.

The inflow remittances from nearly 10 million Bangladeshis, living and working in over 100 countries, in the last 2015-16 financial year fell about 2.55 percent to 14.93 billion U.S. dollars.

Muhith had earlier said the government will request a record 4.20 trillion taka (around 51 billion U.S. dollars) national budget for the next 2017-18 fiscal year beginning in July.

The Bangladeshi parliament on June 30 last year passed 3.41 trillion taka (42.58 billion U.S. dollars) national budget for the outgoing 2016-17 fiscal year (July 2016-June 2017), targeting an economic growth of 7.2 percent.