9.1 billion dirhams of remittances from the UAE to Bangladesh annually

9.1 billion dirhams of remittances from the UAE to Bangladesh annually
9.1 billion dirhams of remittances from the UAE to Bangladesh annually

The latest economic statistics between the UAE and Bangladesh showed that more than one million Bangladeshi citizens remit about 2.5 billion US dollars (9.1 billion dirhams) to Bangladesh every year, which indicates the continuous growth in bilateral relations and friendship, for a long time.

Yesterday, Dubai witnessed the work of the two-day Global Business Summit 2021, and the economic miracle of Bangladesh was discussed by a committee of experts and key officials, in which more than 200 investors and business leaders from all over the world participated.

The event was organized by the “NRP Commercial VIP” association, which represents the top 150 money transfer agencies to Bangladesh, ways and means of promoting investment, foreign trade and the flow of remittances to Bangladesh.

Every year the Government of Bangladesh honors senior remitters, presenting them with the prestigious Commercial VIP Status, which affords them certain advantages, as a token of appreciation for their contribution to the country’s economy.

Dr. said. Imran Ahmed, Minister of Expatriate Welfare and Employment in the Government of Bangladesh, said at the opening session of the Global Business Summit at the Crowne Plaza Hotel in Dubai on Thursday, “The government of Prime Minister Sheikh Hasina is working tirelessly to realize the dreams of Bangabandhu Sheikh Mujib Al-Rahm, the father of the nation of Bangladesh, who envisioned an empty society. From exploitation and hunger”: I am happy to say: Part of this dream has come true. Today, we have no poverty in Bangladesh, where everyone can enjoy two meals a day, have a home and can dream of a better life.

Our expatriates have played a huge role in helping our economy. The $24.77 billion remittances they sent to Bangladesh through banking channels during the pandemic not only helped increase our foreign exchange reserves to a record level, but also helped people survive and get out of the most difficult situation – the COVID-19 pandemic. .

Today, we are here to express our government’s sincere appreciation to non-resident Bangladeshis and to congratulate them on the fiftieth anniversary of our independence.

The participants examined the extent to which the Bangladeshi economy is ready to grow by 5.1% in the current fiscal year (July 2021 – June 2022), according to the World Bank, after it recorded a growth of 5.2% in the last fiscal year ending on June 30, 2021, which was the highest in Asia, in At a time when the whole world was grappling with the “Covid 19” pandemic.

This makes the Bangladeshi economy one of the most sustainable in the world, which has withstood some of the most challenging periods in modern history, including the 2008-2009 global financial crisis. With a per capita GDP of $2,227, Bangladesh is now ahead of its peers. in the region.

“Bangladesh has a proven track record of growth and development,” the World Bank said in the report, “The World Bank has partnered with Bangladesh since 1972, providing more than $35 billion in support.

“Bangladesh has been among the fastest growing economies in the world over the past decade, thanks to a demographic dividend, strong ready-made garment exports and stable macroeconomic conditions.”

As a result, Bangladesh is on its way out of the United Nations list of least developed countries to a middle-income country in 2026, and the poverty rate has fallen from 44 percent in 1991 to 15 percent in 2016. Moreover, human development outcomes have improved along the way. many countries.

Mahtapur Rahman, Chairman of NRB, said: “NRP is one of the biggest contributors to the economy of Bangladesh, not only as converters, but also as investors and importers of Bangladeshi products in the countries where they reside. It is NRB that helps our exports grow to a great extent.

“Going forward, NRP will play a greater role in mobilizing international resources to help our economy.”

A number of government officials in Dubai and the UAE also honored the event, which is expected to increase two-way investment and trade between Bangladesh and the UAE.

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