—Dr Mohammad Asaduzzaman—

In recent months, remittances have emerged as the most significant stabilising factor for Bangladesh’s economy. In recent months, this indicator has made significant and long-lasting progress; in fact, it has become so prominent that inflows have taken the spotlight away from other economic contributors. In February 2025 alone, Bangladesh received $2.528 billion in remittances, the fourth-highest monthly inflow in the nation’s history. The total remittance inflow for the July-February period of the current fiscal year was $18.49 billion, a 23.8% increase over the same period in the prior fiscal year. In the first few months of the fiscal year, remittance inflows showed a steady rising trend, and this amount indicates a substantial buildup of foreign reserve.

Due to expats sending more money to assist their family during Ramadan and Eid, remittance flows are expected to rise and continue until March. The rising trend of the remittances, however, is promising enough to bolster foreigners’ confidence in the stability of the country and Bangladesh’s expectation that its economy would continue to grow and recover.

In addition to stabilising Bangladesh’s socioeconomic condition, remittances can help bridge the deficit in import payments and foreign debt repayments. In Bangladesh, remittances are regarded as the economy’s lifeblood, particularly in rural areas. Remittance growth is imperative for addressing the ongoing the dollar crisis and promoting economic stability. Thus, the caretaker government must concentrate on remittance flow to achieve socio-economic resilience in 2025. Remittances can boost household income, the local economy, poverty reduction, and social development. Remittances not only assist to improve the living standard of the village population but also encourage household and micro-business investments.

This highlights the need for the interim government to prioritise remittance strategies in order to maintain macroeconomic stability and boost Bangladesh’s economic growth, with a particular emphasis on fair treatment of Bangladeshi workers abroad. Additionally, it is equally necessary to improve the capabilities of our current and prospective foreign workers so that they may find employment in higher-paying areas.

Addressing matters like work-related complaints, legal difficulties, visa related issues and timely assistance — all of which enhance the stability and well-being of foreign workers — should be a greater priority for Bangladeshi embassies and consulates. These missions can also lessen the reliance on unofficial means by promoting the use of authorised and controlled channels for remittances through close collaboration with host nations.

Embassies should also educate Bangladeshis living abroad about formal channel options and digital remittance platforms, explaining to them how these systems might help them and their family. Measures that streamline remittance procedures and guarantee easily navigable digital platforms can make Bangladeshi employees feel more appreciated and connected, increasing their propensity to send money home.

Bangladesh needs a multifaceted strategy that combines strong digital payment infrastructure with continuous financial literacy initiatives in order to optimise this impact. Transparency and security in remittance flows may be improved by discouraging the use of unofficial channels and giving Bangladeshis living abroad easy access to financial services and education on safe remittance routes.

For many years, the main destinations for these labourers have been the nations of Southeast Asia, the Middle East, and Northern Africa. Bangladeshi workers have been migrating in significant numbers to Southeast Asia in recent years, especially to Malaysia and Singapore. Notably, Malaysian Prime Minister Anwar Ibrahim stated during his October visit to Bangladesh last year that, if all requirements are satisfied, his administration will give prompt consideration to the new arrival of 18,000 Bangladeshi workers in Malaysia in the first phase. Bangladesh must now collaborate closely in order to fully use Malaysia’s labour market. Foreign skilled labour can increase remittance income. In addition to implementing appropriate measures to address the issue of expatriate income, it’s critical to identify new labour markets and guarantee competent labour.

By expanding the number of technical training facilities, boosting funding for employee training, breaking the illegal syndicate and decentralising the monopolised system, the government can boost the flow of remittances. If Bangladesh wants to make the remittance flow more sustainable, it must work hard to increase the number of trained migrant workers.

For both domestic and international practice, experts believe that it is important to invest in the education and training of technical students to guarantee that they get the requisite knowledge and abilities. It is also crucial to increase coordination between various government departments, simplify the licencing and certification processes who want to work overseas in order to increase their mobility and job prospects in overseas markets and work together with foreign governments, professional associations, and international organisations to advance Bangladeshi expatriates’ recognition and open up job opportunities overseas.

Bangladesh must also diversify its foreign employment markets by implementing appropriate measures, such as growing its current markets and emphasising bold programmes to penetrate other nations with low populations and aging issues, as well as policies to enter emerging economies. It is the holistic responsibility of the government to always search for fresh approaches to accomplish this objective.

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The writer is a Professor at the Department of Linguistics, University of Dhaka, and Director General of the International Mother Language Institute