Emphasis on bringing remittance through legal channels - Prothom Alo English

Speakers made these observations at a roundtable titled 'Remittance via legal channels: possibilities of digital mediums', organised by Prothom Alo. The roundtable was held at Prothiom Alo's office in capital's Karwan Bazar area on Thursday.

Former executive director of Bangladesh Bank and former deputy head of Bangladesh Financial Intelligence Unit (BFIU) Mahfuzur Rahman said that expatriates won't be interested in sending remittance through legal ways if there's a big difference between the dollar exchange rates of legal and illegal channels.

Besides, if attractive investment schemes can be made, it will increase the flow of remittance through legal channels.

Lila Rashid, another former executive director of Bangladesh Bank said legal and illegal channels are competing in fetching remittance. Speedy service, at what cost and with how much confidentiality it reaches the customer are significantly vital in this case.

She said, if remittance arrives through illegal means dollars don't get stored in the county's name. However, everyone has to be made aware of the benefits that can be availed by transferring remittance in legal ways.

Many Bangladeshi expatriate in the Middle Eastern countries are unable to send their income through legal channels for also the lack of valid documents. The embassy officials have to work towards this end.

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