How Bangladesh can learn from U.S. GENIUS Act
Remittances are a vital pillar of Bangladesh’s economy. In 2024-25 alone, the country received over USD30.00 billion from its diaspora, supporting millions of families and fueling domestic consumption. For many households, these funds are not just supplemental income—they cover essential expenses such as food, education, healthcare, and housing. Despite their importance, sending money home remains expensive, often costing between 5% and 7% per transaction, significantly above the global average. Slow transfers, high fees, and reliance on traditional banking corridors continue to limit the effectiveness of remittances, reducing their potential impact on the broader economy. Reducing costs while increasing remittance volume is no longer optional; it is a strategic necessity.
