ID :
241426
Thu, 05/24/2012 - 04:02
Auther :

Bangladesh Seeks To Increase Remittance Through Formal Banking Channels From Malaysia

By Saraswathi Muniappan NEW DELHI, May 24 (Bernama) -- Bangladesh is seeking to increase remittance inflow into the country by promoting the transfer of money through formal banking channels by its citizens living in Malaysia. The Bangladesh-Malaysia Chamber of Commerce and Industry's, former president, Syed Moazzem Hossain said the initiative would be undertaken through the Second Showcase Bangladesh 2012, in Kuala Lumpur from June 13-15. He is also Chairman of the Fair's organising committee. Towards this end, a number of banks would participate in the Fair to help half-a-million Bangladeshis working and living in Malaysia, to make remittances through formal banking channels, The Financial Express quoted Syed Moazzem as saying. He said the remittance from Malaysia could reach US$1.5 billion (RM4.67 billion) if all the money is sent through the legal channel, as compared with US$1 billion (RM3.11 billion) now. -- BERNAMA

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