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Remittance Inflow: Country sees highest growth in South Asia
It’s due to shift to digital, formal channels: WB report
Staff Correspondent
Staff Correspondent
Bangladesh s remittance growth in 2020 was the highest in South Asia with an 18.4 percent rise from the previous year, thanks to a shift in flow from cash to digital and from informal to formal, said a latest World Bank report.
The remittance flow to India, the region s highest recipient country, fell by 0.2 percent from the previous year while Pakistan, the second-highest recipient, saw an increase of 17 percent, according to the WB s Migration and Development Brief.
Although Bangladesh remained at third position in South Asia, the country has become the seventh-largest remittance earner among low- and middle-income countries and the eighth-largest earner in the world as expatriates sent home a record $22 billion last year.