bKash Records Over Tk 900 Crore in Remittances During First Half of Ramadan
During the first half of Ramadan this year, over Tk 900 crore in remittances were sent through bKash, marking an 86% increase compared to the same period last year, according to the bKash authorities. Expatriates from over 140 countries are using bKash to send money to their loved ones in Bangladesh, contributing to both their families' Eid celebrations and the country's foreign exchange reserves.
Currently, remittances from more than 140 countries are settled through 25 leading commercial banks in Bangladesh, facilitated by over 100 international money transfer operators (MTOs). These funds are instantly deposited into the recipients' bKash accounts, ensuring swift and secure transactions. Beneficiaries can cash out their remittances from nearly 2,500 ATM booths across 19 commercial banks in the country at an affordable rate of Tk 7 per thousand. The cash-out process is accessible via *USSD (247#) and the bKash app, enabling remittance recipients to save on transaction costs.
Additionally, recipients benefit from a government incentive of Tk 25 per thousand on remittances, ensuring they receive the full amount instantly. This allows families to seamlessly manage their Eid expenses, pay utility bills, transfer funds, recharge mobile phones, pay tuition and government service fees, donate zakat and fitra, open savings accounts, and even repay NGO loan installments—all through the bKash platform from the comfort of their homes.
