Remittance Inflows Jump 41% Ahead of Eid-ul-Azha

Bangladesh recorded a sharp rise in remittance inflows in May, with overseas workers sending significantly higher amounts through formal banking channels ahead of Eid-ul-Azha, according to central bank data.

Figures show expatriate Bangladeshis remitted $2.97 billion between May 1 and May 23, 2026, representing a 41.31% increase compared with $2.10 billion received during the same period last year.

Daily inflows also remained strong, with remittances reaching $173.64 million on May 23 alone, reflecting continued momentum in inward transfers.

The latest increase has pushed total remittance earnings in the current 2025–26 fiscal year to a record level. Between July 2025 and May 23, 2026, Bangladesh received $32.3 billion in remittances, up 21.26% from $26.64 billion recorded during the corresponding period of the previous fiscal year.

Officials and financial analysts attributed the rise to increased money transfers ahead of Eid-ul-Azha, as many expatriate workers send additional funds home to support family expenses during the festival season.

They also pointed to expanded digital banking services and easier transaction processes that have encouraged greater use of formal channels for money transfers.

Competitive exchange rates offered by banks were also identified as a contributing factor in attracting remittances through official systems instead of informal networks.

Economists say strong remittance inflows continue to play an important role in supporting the country's foreign exchange reserves and maintaining broader macroeconomic stability amid ongoing global economic challenges.

Remittances remain one of Bangladesh’s key sources of foreign currency earnings, alongside exports, helping strengthen external balances and support domestic economic activity.