Banks will stop service charges on remittances from Monday, November 7. The decision comes at a time when remittances have been falling for two straight months, adding to the pressure on the nation’s Forex reserves.
It is aimed that the move can act to boost the inflow of remittances through the authorities’ channels.
This step was taken at a joint meeting of the bank’s top executives, the Association of Bankers, Bangladesh (ABB), and the Bangladesh Foreign Exchange Dealers Association (BAFEDA), held at the Sonali Bank building on Sunday, November 6.
hence, the forex houses will be open even on weekends to facilitate remitters for sending remittances to the country. This decision will be effective from Monday, November 7.
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