Remittances thru agent banking rises to Tk 1,81,204cr in March

The 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 (BB).

Talking to BSS, a senior official of the central bank said during the quarter of January to March, the quantity of inward remittances distributed by the agent outlets 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 is supposed to be a positive outcome of the government's initiative of providing a 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 Bangladesh Bank are expected to have a positive impact on remittance inflow, the official added. 

He said agents are contributing promisingly in this regard since customers are 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 2025's total.

Of the total, only around 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 a 95.46 per cent share of the total inward remittances distributed through agent banking till March 2025. Islami Bank Bangladesh PLC ranks at 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.

Abdul Quaium Chowdhury, deputy managing director of Premier Bank PLC, said that the rising trend of agent banking, especially in rural areas, indicates that there is a remarkable potential to bring the rural unbanked people under the umbrella of formal banking services.

He said the flow of remittances into the country shows an upward trend as the government has taken measures to streamline the legal channel for encouraging non-resident Bangladeshis (NRBs) to send money to the country.

Bangladesh Bank introduced agent banking in Bangladesh in 2013 with a view to providing a safe alternate delivery channel of banking services. The targeted customers of this service were the under-served population who generally live in geographically remote locations that are hard to reach by the formal banking networks.

Customers can avail of various banking services including deposits, loans, overseas and local remittances, payment services (such as utility bills, and taxes), and receiving government social safety-net benefits through agent banking outlets.

This model is thus gaining popularity as a cost-effective and convenient delivery channel to the masses of people who would otherwise have remained beyond the reach of conventional banking services.

Banks are operating their agent banking activities in line with the Prudential Guidelines for Agent Banking Operation in Bangladesh, issued by Bangladesh Bank on September 18, 2017, covering various aspects, including the agent approval process, permissible activities, and responsibilities of the banks and the agents.

It also focuses on the requirements for anti-money laundering and combating the financing of terrorism (AML/CFT), customer protection and business continuity to facilitate the safe and effective proliferation of agent banking in the country.