The remittance inflow into the country has registered a negative growth in the just concluded 2013-14 fiscal after 13 years of its positive trend, according to data released by the central bank on Thursday. Bangladesh received nearly $14.23 billion in remittance in 2013-14, down slightly by 1.61 percent compared to over $14.46 billion a year ago, according to provisional data from the Bangladesh Bank (BB). Last time, inward remittances declined in 2000-01.Remittances from millions of citizens abroad are critical for the South ...

Bangladesh has to do more to improve factory conditions and workers rights in order to have U.S. trade benefits restored, the U.S. Trade Representative's office said on Wednesday. President Barack Obama revoked longtime trade benefits for Bangladesh a year ago, after a garment factory collapse and a factory fire killed more than 1,200 people and gave the country a checklist of things to improve. A progress review found that Bangladesh registered new unions in the garment sector, dropped criminal charges against labor activists and was cooperating with priva...

Only 25 percent of the remittance-receiving households invest in productive sectors after paying for livelihood necessities, while others do not, the statistical agency said in a survey yesterday. Remittance receivers spend 39 percent of funds on food and non-food items, according to the survey by Bangladesh Bureau of Statistics, reports The Daily Star. BBS surveyed 9,961 households between January 2013 and June 2014. The main purpose of the survey is to identify the different uses of inward remittance, said Dilder Hossain,...

A top regional official of IFC, a member of the World Bank Group, met the Bangladesh Bank governor saying the institution will ramp up its operations in the country to boost job creation and economic competitiveness. Serge Devieux, IFC Regional Director for South Asia, met central bank governor Dr Atiur Rahman this week to reaffirm IFC’s commitment towards building a momentum for rapid, inclusive, and sustained growth in the country, said a press release. “We’re working towards expanding job-creation opportunities, building critical infrastru...