Bangladesh Bank Governor Dr. Ahsan H. Mansur stated that the establishment of good governance has curbed money laundering, leading to a record-high remittance flow despite political instability. Speaking at the inaugural session of the “Branding Bangladesh World Conference Series,” organized by the Center for NRB at the Sonargaon Hotel in Dhaka on Saturday, he shared these insights.

Dr. Mansur highlighted that remittances have increased by $3 billion and exports by $2.5 billion over the past five months. He assured there was no need for panic, as the central bank still holds reserves sufficient for four months, but cautioned against complacency.

The governor attributed the relative stability of the economy to improved governance in the banking sector and the reduction of money laundering. He urged expatriates to use formal banking channels to send money, noting that Dubai has overtaken Saudi Arabia as the top source of remittances. However, he warned that this trend might indicate money being transferred from Saudi Arabia to Dubai first, where certain entities manipulate exchange rates.

Dr. Mansur also emphasized the importance of lobbying for Bangladesh as a unified front, pointing out that political divisions among expatriates pose a significant challenge. He mentioned that the government spends Tk 7,000 crore annually on a 2.5% incentive to encourage remittances through formal banking channels.

In December alone, Bangladesh received a record $2.64 billion in remittances, the highest ever for a single month in the country’s history.