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Despite an earlier suspension of remittances by expatriate Bangladeshis in solidarity with students' movement against discrimination, the inflow of funds has rebounded sharply following the ousting of Sheikh Hasina's government.
According to Bangladesh Bank data, the country received $482.77 million in remittances during the first 10 days of August. Of this, $387.12 million was transferred between 4 and 10 August, marking a fourfold increase compared to the preceding three days.
Prior to the government's collapse, remittances had dwindled to $95.65 million in the first three days of August, reflecting the impact of social unrest and calls for a remittance boycott. Many expatriates had resorted to using the unofficial Hundi system to transfer funds, contributing to a decline in official remittances.
In July, remittance inflows dropped to $1.91 billion, a 3.24 per cent year-on-year decrease, as the country grappled with student protests and an active social media campaign advocating for a halt in remittances. This figure also represented a sharp 24.8 per cent decline from June’s inflow of $2.54 billion, which had been the highest in three years.
Expatriates joined the “shutdown remittance” campaign to show their support for the student-led movement, accusing Sheikh Hasina’s administration of corruption and irregularities—factors cited as contributing to the reduction in remittances.
