Disbursement amount of inward remittances through agent banking rose 20.87 per cent to Tk 1,81,204.73 crore at the end of March 2025.
At the end of March 2024, the figure was Tk 149,916.40 crore, which increased in December 2024 to Tk 1,73,390.72 crore, according to the quarterly report on agent banking published by the Bangladesh Bank.
Talking to BSS, a senior official of the central bank said that during the quarter of January to March, the amount of inward remittances distributed by the agent outlets had increased by 4.51 per cent over the previous quarter.
The remarkable amount of remittances channelled through agent banking seems to be a positive outcome of quick delivery of remittances to the doorsteps of the beneficiaries through agent banking, he added.
He mentioned that this increase in inward remittances through agent banking was supposed to be a positive outcome of the government’s initiative of providing 2.5 per cent cash incentive on inward remittances.
Moreover, banks’ financial literacy campaigns focusing on the theme ‘Enhance Social Awareness to send Remittance through Legal Channel’, announced by the Bangladesh Bank is expected to have a positive impact on remittance inflow, the official added.
He said that agents were contributing promisingly in this regard since customers were likely to get doorstep banking services within the shortest possible time.
Thus, agent banking is becoming a popular channel for inward remittance distribution, he continued.
According to the report, agent banking accounts opened in rural areas have always been the major recipients of the remittance disbursed, as they received 90.17 per cent of March’s total collection.
Of the total, only about 9.83 per cent or Tk 17,803 crore was received by those with agent banking accounts in urban areas.
The top five banks have 95.46 per cent share of the total inward remittances distributed through agent banking till March 2025. Islami Bank Bangladesh PLC ranked the top with Tk 96,427.29 crore, which is 53.21 per cent of the total inward remittances distributed through agent banking.
Dutch-Bangla Bank PLC distributed 26.98 per cent while Bank Asia PLC 7.76 per cent, Al-Arafah Islami Bank PLC 4.34 per cent and Agrani Bank PLC 3.17 per cent.