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Many Bangladeshis are working in different countries of the world and are sending several billion dollars of remittances every year to Bangladesh, many of which come through hundi. In the fiscal year 2021-22, 21 billion dollars in remittance came through the official channel in Bangladesh, which is a little over half of the country's total remittance earnings. It means 20-21 billion dollars have been remitted through unofficial channels or hundi. Basically, no legal documentation is needed for transactions in Hundi, and the money reaches the recipient in a faster time than the banking channel, so this method is widely adopted. However, the government of Bangladesh is currently providing various types of incentives to reduce remittance inflows through hundi. In this video, we will explore what makes Hundi still so popular.
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Video Sections:
00:00 - Introduction
00:00 - What Is Hundi, How It Works?
00:00 - Popularity of Hundi
00:00 - Why So Popular?
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#hundi #remittance #bangladesh