Written by The Banking Post
Chattogram City Corporation (CCC) Mayor Dr Shahadat Hossain has warned that the country is losing out on billions in foreign exchange as Bangladeshi expatriates continue to rely on illegal hundi networks due to lack of awareness about digital money transfer apps.
“Millions of expatriates in the Middle East face difficulty sending money home through banks as their working hours clash with banking hours, compounded by paperwork complications. Most are also unaware of digital apps that allow instant transfers,” Dr Shahadat said at a view-exchange meeting titled ‘The Role of Media in Boosting Remittance’, organised by international fintech firm NALA in Chattogram on Wednesday.
He called on the government to crack down on hundi operators, saying: “The money is coming into the country, but since it bypasses formal channels, the nation is not benefitting.”
Speakers at the event underscored the role of media in encouraging migrants to use legal transfer routes.
Chittagong University Marketing Professor Dr Hossain Shahid Sarwardy said remittances are “one of the key drivers of the economy, contributing billions of dollars each year, strengthening reserves and supporting households and development.” Raising awareness and trust among expatriates, he stressed, is essential.
NALA Bangladesh’s Head of Growth Mahmudul Hasan said journalists can play a pivotal role in promoting secure and formal transfers through campaigns, success stories and comparative reports.
Launched in 2021, the NALA app now has over half a million users, allowing expatriates from 21 countries—including the US, UK and across Europe—to send money to Bangladesh. The company operates in 14 countries across Africa and Asia, connecting 249 banks and 26 mobile money services, with backing from global investors such as Y Combinator, Accel and Bessemer.
