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Mohammad Osman Chowdhury, UAE, (Dubai)
Analysts say that Dubai, the city of the United Arab Emirates, has become one of the preferred destinations for the country’s wealthy groups, entrepreneurs and politicians. The business of Bangladeshis in Dubai is also increasing.
Because of this, some analysts believe that a part of the money smuggled out of the country to Dubai may be brought back by smugglers to take advantage of the incentives. After taking advantage of the incentives, the money may again be laundered. Due to this, the expatriate income coming from the UAE through legal channels has suddenly increased.
But bankers say that banks are now giving good benefits to expatriate income. Due to this, income is increasing through legal means. Private Mutual Trust Bank Managing Director Syed Mahbubur Rahman said.
Expats are now getting better benefits if they send money through legal channels. Banks are also encouraging expatriates to send money through legal channels. A lot of campaigns have been done especially in UAE. Due to this, the income of expatriates from the country has increased.
According to the latest updated data of Bangladesh Bank, from July to February of the current financial year, a total of 1 thousand 508 million US dollars has been received from expatriate income in the country. Of this, about 291 million dollars came from the United Arab Emirates.
About 1.88 billion dollars came from the United Kingdom, 1.79 billion dollars from Saudi Arabia, 1.68 billion dollars from the United States and about 1 billion dollars from Italy. About 61 percent of expatriate income came from these five countries in the eight months of the current financial year.