Cash incentive on remittance stays 2.5 per cent

The govrenment keeps the rate of incentive on sending remittance unchanged at 2.5 per cent in the fiscal year 2022-23, reports UNB.

Announcing then move in hs budget speech in the parliament on Thursday, Finance Minister AHM Mustafa Kamal hoped that a satisfactory growth of remittance will be back on track soon.

In FY2020-2021, the growth of remittance stood at 36.10 per cent, he said

However, since the very beginning of FY2021-2022, the income from remittances slightly decreased.

With a view to encouraging remittance through legal channels, he said the government has raised the rate of incentives  by 0.5 per cent to 2.5 per cent from January, 2022.