The New Nation - Internet Edition

Staff Reporter

The recent labour turbulence in the Middle Eastern countries has cast a negative effect on Bangladesh's remittance inflow in April which was US$8.72 million less than that of March this year, Bangladesh Bank sources said yesterday.

The country received US$800.20 million in remittances from expatriate workers in April, up 47.2 per cent from a year ago but down from a record high of US$808.72 million in March, Bangladesh Bank sources added.

In the last few months Bangladeshi expatriates in Middle Eastern countries have been facing immense troubles, as the law enforcers in those nations were tough on them. Police were arresting and deporting Bangladeshi workers without any cause.

The newcomers in Middle Eastern countries were also facing problem to get job as some of the vested quarters were cheating them. Bangladeshi labourers in Kuwait, Malaysia, KSA and UAE faced the problem.

During the first 10 months of the Fiscal Year 2007-08, remittances from more than 5 million Bangladeshis working abroad totalled US$6.45 billion which is 31 per cent higher than the corresponding period of previous fiscal.

Officials said booming economies in the Middle East and the Gulf region, ageing population in European countries and rising skills of Bangladeshi workers were pushing up a demand for Bangladeshi labour.

Remittances hit a record US$5.98 billion in the FY 2006-07, 24.52 per cent higher than the previous fiscal.

The central bank expects the inflow of remittance to touch an annual US$10 billion over the next one year, boosting a key source of foreign exchange for the country.

It has been making vigorous efforts to encourage expatriates to send money home through legal channels, officials said.

The majority of the expats work in the Middle East, the United States, Britain, Germany, Italy, Japan, Malaysia and Singapore.

Remittances from Bangladeshis are the country's second biggest source of foreign income after ready-made garments, which earned more than US$9 billion in FY 2006-07.