Tuesday, 18 Feb, 2025
  Dhaka
Tuesday, 18 Feb, 2025
The Daily Post

Foreigners taking huge money from BD

Senior Reporter

Foreigners taking huge money from BD

-Legal foreigners in country till 2023 was 107167

-37464 Indian and 11404 Chinese and rest are from other countries

-Salaries and allowances of foreign workers in BD increased by 37.26 times.

 

Foreign workers are taking huge amount of money from Bangladesh to their country. The amount of which is several times more than the remittances sent by expatriates from abroad.

In the 24 years from 2000 to 2023, remittance flows from expatriates increased 11.26 times. And at the same time, the tendency of foreign workers working in Bangladesh to take salaries and allowances in foreign currency has increased by 37.26 times.

The tendency to take salaries and allowances of foreign workers rather than the increase in remittances is increasing the pressure on the foreign exchange. In 2023 alone, foreign workers took $15 million in foreign currency as salaries and allowances from Bangladesh. Tk 1,650 crore according to the dollar price at that time. And more money is being taken through hundi than legally. This information was known from sources related to the Ministry of Finance.

According to the relevant sources, the number of legal foreign nationals staying in the country till 2023 was 1 lakh 7 thousand 167 according to the report of the Government's Security Services Department and the Special Branch of the Police. Among them, the largest number of Indian nationals, followed by Chinese nationals, Indian 37 thousand 464 and Chinese 11 thousand 404 and the rest are from other countries. Most of them are employed as workers in various organizations.

Apart from this, there are many other illegal foreigners, whose account is not included. According to the law, it is mandatory to pay income tax and obtain a work permit if you stay and work in Bangladesh. Foreigners have to get A-3 visa to work in the country. By revising the visa policy made in 2006, the provision of taking A-3 visa is removed if the project is worked on. As a result, since that time, foreign workers have been able to work without A3 visas. In this, no government agency has any real information about the type of work of foreigners coming to the country. However, an initiative has been taken to build a database of foreigners staying in Bangladesh.

According to sources, just as legitimate foreign workers are sending remittances from Bangladesh through legal and illegal channels, illegal workers are also sending remittances through hundi. In 2007, during the caretaker government, an investigation found money laundering from the country in the name of paying higher salaries to the employees of several organizations. Even if there is no foreign worker, the case of sending salary and allowances abroad in his name through banking channels has also been caught. In 24 years from 2000 to 2023, the trend of sending salary and allowances to foreign workers from Bangladesh has increased by 37.26 times. But at the same time, the tendency of expatriates to send remittances to Bangladesh increased by 11.26 times.

Sources also said that remittances have increased more than three times the tendency of foreign workers to take foreign currency for salary. Year-on-year basis, it is seen that the amount of salary and allowance of foreign workers is increasing more than the remittance. Compared to 2022, remittances in the country increased by 3 percent in 2023. At the same time, the tendency of foreign workers to take salaries and allowances from the country has increased by 10 and a half percent. In 2000 and 2001, foreign workers took $40 lakh annually from Bangladesh and took a total of $80 lakh. $ 60 lakh was taken per year in 2002 and 2006 which was for a total of $1 crore 20 lakh. Foreigners took $70 lakh in 2003. Besides, in 2004 and 2009 they took $80 lakh per year. Foreigners took a total of $ 1 crore 60 lakh in these two years.

They took $30 lakh annually in 2006 and 2007, totaling $60 lakh from Bangladesh. And in 2008, for the first time, foreign workers' salary and allowances exceeded $ crore. That year they took $1 crore 40 lakh. In 2010, a slightly reduced amount of $90 lakh was taken. In 2011 and 2012 took $ 1 crore 20 lakh each year and took a total of $ 2 crore 40 lakh in these two years.

In 2013 it rose to $2 crore. In 2014, it further increased to $ 3 crore 30 lakh. In 2015, they took $ 3 crore 20 lakh, in 2016 $ 4 crore 10 lakh and in 2017 $ 4 crore 70 lakh. In 2018, it stood at $5 crore 70 lakh. In 2019, the trend of foreign workers taking salary increased to $ 8 crore 30 lakh. $9 crore 50 lakh was taken in 2020, $10 crore in 2021 and $13 crore 50 lakh in 2022. In 2023, $14 crore 90 lakh was taken, which is 0.03 percent of the total GDP.

Meanwhile, the number of foreign workers in large industries has increased due to the implementation of large projects in Bangladesh. Because of this, their tendency to take salary has also increased. At present, 75 percent of the salary and allowances received by foreign workers can be remitted to their home country or any other country in foreign currency.