The demand for dollars comes from many sources, but money laundering is like the white elephant in the room. A former chief of the National Board of Revenue (NBR) openly asked, “Who is laundering out all the money? There must be someone in the know.”
For a country that depends on the earnings of migrant workers for its economic stability, it is certainly a worrying trend when remittance keeps on declining year after year.
Remittances sent by expatriate Bangladeshis are one of the vital sources of foreign currencies for the country’s economy. Needless to say, remittance plays a crucial role at both macro and micro levels.