Downfall of remittance inflow, despite an increasing number of Bangladeshis leaving for jobs abroad, has become persistent due to the growing use of hundi.
Hundi is illegal in Bangladesh and works outside the conventional banking system to transfer money. Though informal, the hundi business is well-organised. It is used as bills of exchange in trade transactions, credit instruments for borrowing money, and remittance instruments for transferring money from one place to another.