- Bangladesh Bank manages monetary policy in Bangladesh.
- Governor promotes central bank's digital payment initiatives to build a cashless payment ecosystem in Bangladesh.
Bangladesh Bank Proposes Formal Banking for Rohingya Remittances
What happened
An intelligence report proposed allowing selected Rohingya families to open controlled bank accounts in Bangladesh. This move aims to divert informal *hundi* remittances into formal channels, bringing them under oversight by Bangladesh Bank and the Bangladesh Financial Intelligence Unit. The report estimates that approximately Tk 80 crore enters the camps monthly through *hundi*.
From thedailystar.net
Why it matters
The proposal seeks to bring informal money transfers, which lack an audit trail and can be used for drug trafficking, arms trading, and terrorism financing, into the formal banking system. The plan recommends a pilot project involving 1,000 vetted families with biometric verification and transaction ceilings.
Bangladesh Bank manages monetary policy in Bangladesh, and its Governor promotes digital payment initiatives to build a cashless payment ecosystem in Bangladesh.
From thedailystar.net
Who's involved
- Bangladesh BankMonitors the formal banking system in Bangladesh.
- BangladeshThe country where the proposal to formalize remittances is being considered.
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The entities involved
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Bangladesh Bank
central bank of Bangladesh and member of the Asian Clearing Union
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Bangladesh
country in South Asia
Related events
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- Diene Keita supports Bangladesh's global development initiatives while Bangladesh hosts Rohingyas awaiting repatriation to Myanmar.