Economy
PM urges expats to shun hundi in sending remittance home
Bangladesh Prime Minister Sheikh Hasina on Wednesday (4 December) asked the expatriate Bangladeshis not to send money home through the hundi, a cross-border money transfer method that bypasses the legal banking system.
“I would like to request those who use hundi to stop it and instead send the money directly through banking channels,” she said at a meeting with the leaders of the Awami League’s different overseas chapters including the USA and the UK ones at her office.
The premier said the government is now setting up 100 economic zones in the country and the expatriates can make investments under joint venture there.
“Those who want to do business can make investments there. If anyone (expat) can bring foreign partners (from various countries of the world) to invest here, it would be better,” she said.
Expressing satisfaction over new investments coming to Bangladesh, she said the inflow of foreign funds in the country is good as the foreign investors consider Bangladesh as a good destination.
Talking about the global crisis induced by the Russia-Ukraine war, Hasina said her government won’t let the people suffer from the food shortage.
“So, we’re purchasing food from anywhere in the world, and spending money whatever is required. We’re facing some problems because of the Ukraine war….. We will not let the people suffer,” she said, adding that the inflation rate is showing a decreasing trend in the country.
She, however, expressed satisfaction over the production of the Aman paddy and said that it has been a bumper yield this year. Now everyone is now busy planting Boro paddy and the stock of fertilizer is satisfactory, she added.
PM Hasina said her government has already reached electricity to every house and allowed people to install small solar panels, particularly for irrigation.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
