Karachi, 13 December 2022:

Bangladesh Deputy High Commission in Karachi arranged a seminar at the Chancery on 13 December 2022 titled: “Seminar on Sending of Remittances through Legal Channels”. Around 55 participants including the Mission officials and expatriate Bangladeshis in Pakistan participated at the Seminar.

 In the seminar different aspects of remittances were discussed with particular focus on the sending of remittances to Bangladesh through legal channels. The ways/modes and importance of sending remittances in legal/formal/banking channels were explained and discussed in details. Three remitters also shared their own practical and positive experiences in sending the remittances to Bangladesh through legal channels. It was mentioned that there are few Banks of Pakistan such as Bank Alfalah, Habib Bank, National Bank of Pakistan, United Bank Ltd (UBL), and HSBC have their branches in Bangladesh, which are eligible to remit money smoothly to Bangladesh from Pakistan. There are also designated Money Exchange Companies and agencies like Western Union, which are also eligible to remit money to Bangladesh in legal channels.

Deputy High Commissioner of Bangladesh in Karachi S. M. Mahbubul Alam in his remarks outlined that remittances to Bangladesh are money transfers (remittances) sent by the Bangladeshi diaspora to Bangladesh. He mentioned that there are over 14 million Bangladesh nationals, who have been living in over 180 countries in the world. He further mentioned that aaccording to the World Bank, Bangladesh was the 7th highest recipient of remittances in the world with almost $22.1 billion in 2021 and was the third highest recipient of remittances in South Asia.

Deputy High Commissioner further highlighted that the Bangladesh expatriates /Diaspora have been playing very vital roles for the economy of their host countries and that of the motherland - Bangladesh.  He attached importance that remittances are very vital in improving people’s living standards, enhancing foreign exchange reserve, advancing the country’s economy, ensuring better education and health services, and creating employment opportunities in Bangladesh. He also attached huge importance that the sending of money in legal channels is also very crucial in preventing money laundering. Deputy High Commissioner briefed that the Government of Bangladesh has introduced 2 per cent incentive against each remittance to encourage the remitters to remit more of their hard-earned money to Bangladesh and also to encourage the remittance channelling through the formal channels. He categorically mentioned that the 2% incentive for the Bangladesh’s Government for remittance and ease of other facilities and services ensured by Bangladesh Government related to remittances have been working as catalysts behind the significant increase in remittance inflow to Bangladesh in the recent times particularly after the Covid outbreak.  He emphasized on social awareness among the Bangladesh nationals living overseas in sending remittances through formal channels. Deputy High Commissioner encouraged the participants to remit money to Bangladesh through channels and assured them of possible supports from the Mission in building social awareness among Bangladesh nationals living/working in Pakistan to remit money to Bangladesh though formal/legal channels.

Deputy High Commissioner S. M. Mahbubul Alam emphasized that Bangladesh is a ‘Role Model of Socio-Economic Developments’ in the world and Bangladesh has an impressive image in the international community. The Diplomatic Mission as well as the Bangladesh community in Pakistan have significant role in enhancing Bangladesh’s image, name and fame in Pakistan and sending remittances to Bangladesh through legal channels will also contribute to enhance Bangladesh’s image overseas.