Bangladesh loses $1.48bn in remittances to poor exchange rates, hidden fees - The

TBT DESK:Bangladeshi migrants sent home nearly $27 billion in 2024. But according to new figures, a staggering $1.48 billion — about Tk 16,200 crore — vanished into high fees, hidden charges and unfavourable exchange rates. The data were presented in Dhaka on Saturday by international fintech company Nala, which operates a money transfer app. At a press conference, Nala’s Head of Growth in Bangladesh, Mahmudul Hasan, said the losses represent 0.33 % of the country’s GDP and more than 2 % of the annual budget. Globally, migrants remitted around $905 billion last year, with $57 billion lost to similar costs. “For Bangladeshi workers abroad, every dollar is hard-earned,” Hasan said. “It is not just family incomes that suffer when charges...