Highlights: The banks that follow verbal rules of BB are losing but those offering higher rates winning Banks are supposed to pay up to Tk110 per dollar for remittances According to bankers, some banks pay max Tk116 to collect remittances Exchange houses also compete among themselves to collect remittance They collect remittances at higher rates, sell
As a result of the game of secrecy of the real beneficiaries, those involved in banking sector corruption and money laundering have hardly been brought to justice.
At a time when the entire country is grappling with rising dollar prices that put foreign exchange reserves under stress, some banks have made high profits from the volatile forex market, propelling the greenback to become dearer and making the inflation worse.