US top remittance source for Bangladesh: BNP surprised, suspicious or jealous?

At a meeting on Sunday, the Centre for Policy Dialogue (CPD) raised a question that would shape the political rhetoric in the days to come: How did the US replace Saudi Arabia to become Bangladesh's foremost source of remittance in the July-April period of the current fiscal year.  

The think-tank's figures showed that remittance from the US had increased to $3.05 billion from $2.87 billion in the corresponding period of the previous year.

"Where does this money come from?" Fahmida Khatun, executive director of the CPD, asked. 

The think-tank believed that it was money earned illegally, laundered abroad and then being sent back – all the while availing a 2.5% government incentive on remittance.

At a discussion the next day, BNP Secretary General Mirza Fakhrul Islam Alamgir said the sudden rise in remittance from the US was surprising.

"What magic is behind the rise in remittances from America? People are saying the thieves are bringing back the money that they have stolen and siphoned off America," he told the gathering.

The very next day, Awami League General Secretary Obaidul Quader fired back in a press release, saying the BNP was jealous of AL's successes.

Saying that BNP wanted to create a financial crisis in the country by discouraging legal remittance inflow. 

"It is obvious that those who look forward to sanctions on the country and its people by their foreign masters will not be able to accept the positive news in regards to remittance."

Then, Quader took it up another notch.

"The current government has set the precedent of enacting effective laws to prevent money-laundering and ensuring exemplary punishment for the culprits," he said in the press release, claiming that the money smuggled by BNP Acting Chairman Tarique Rahman was brought back from Singapore.

Without much pause, on Wednesday Mirza Fakhrul reiterated earlier comments on remittance, saying those had increased in recent years centring the US visa restrictions as black money smuggled out of the country was being sent back.

"After 50-52 years, remittances are coming from the United States. But those who live in America never come and invest in the country. They don't invest. They instead sell their homes here and leave. Now, they are coming back! Why?

"Those who looted thousands of crores from the country are bringing those back. And a 2.5% incentive has been announced on remittance," he said.