The government is working to reduce migration costs for workers going abroad from Bangladesh to the lowest possible level and to send skilled workers, said State Minister for Foreign Affairs Shama Obaed Islam, adding that the migration cost for Bangladeshi workers is much higher compared to other countries. Due to dishonest traders and syndicates, expatriates have to sell their land and property, spending up to BDT 1.4 million to go abroad. She added that the current government has initiated work to bring this cost down to within BDT 300,000, as well as to send even more skilled human resources abroad.
The state minister made the remarks while attending the “Bangladesh Remitters’ Recognition 2026” event as the chief guest on Monday in Singapore. Continuing last year’s tradition, Bonik Barta presented honours to 15 expatriates and four organisations, in recognition of their special contributions to the country’s economy by sending remittances through legal channels. The Thakral Group, Singapore was the associate partner for the event, while Prime Bank PLC, Agrani Bank PLC, National Bank PLC and US-Bangla Airlines were strategic partners.
In the 2025-26 fiscal year, Bangladesh received $35.5 billion in remittances. Of the amount, expatriates in Singapore sent more than $1.5 billion that fiscal year, an increase from the $630 million in FY 2023-24. Speakers at the Monday event noted that Bonik Barta’s Bangladesh Remitters’ Recognition programme has played a role in encouraging Singapore expatriates to send remittances through legal channels. They shared hope that the amount will exceed $2 billion in the current 2026-27 fiscal year.
Moderated and hosted by Bonik Barta’s Editor Dewan Hanif Mahmud, the event was attended by more than 150 guests, including Thakral Group Managing Director Gurmukh Singh Thakral, Agrani Bank PLC Chairman Syed Abu Naser Bukhtear Ahmed, One Bank PLC Chairman ASM Shahidullah Khan, National Bank PLC Chairman Dr Melita Mehjabeen, Prime Bank PLC Chief Executive Officer Faisal Rahman, Bangladesh Business Chamber of Singapore President Mohd Shahiduzzaman, representatives from various exchange houses located in Singapore, officials from the Bangladesh High Commission and expatriate Bangladeshis.
Highlighting plans to send skilled human resources abroad, State Minister Shama Obaed Islam said that the government is focusing not just on the English language, but also on third languages such as Chinese, Japanese or any other language that our citizens can learn to enable them to work abroad.
Stating that the government is placing special importance on the education system for this purpose, the state minister said that giving the highest priority to the education sector, the government has allocated the maximum budget compared to any other time and emphasised the further improvement and modernisation of vocational training, as well as focusing on technical education and third-language instruction.
Announcing that a dedicated “Migration Wing” has been launched for the first time in the foreign ministry to ensure overall services for immigrants and solve problems promptly, she said that this wing, led by a director general, is working as a joint working group with the Ministry of Expatriates’ Welfare and Overseas Employment to solve problems and improve the service quality for expatriates.
Inviting Singapore expatriates and the country’s business community to invest in Bangladesh, Shama Obaed Islam said that over the past 17-18 years, the country’s economy has weathered many storms. The current government is creating an investment-friendly environment in the country that is transparent, corruption-free and equipped with a ‘one-stop service.’ Those who have established themselves abroad should play a role not only as remittance senders but also as investors and entrepreneurs in Bangladesh, thereby helping create employment for the country’s vast youth population, she noted.
Addressing the expatriate Bangladeshis working in Singapore during the event, the state minister made five specific requests: avoiding hundi and always sending remittances through legal banking channels; showing the utmost respect for Singapore’s laws, regulations and work culture; being responsible in the use of social media and refraining from any extremism or hate propaganda; maintaining mutual harmony by respecting people of different languages and religions; and continuously skilling themselves through the acquisition of new technologies, technical knowledge and language proficiency.
In her speech, the state minister thanked Singapore’s Ministry of Manpower for swiftly rehabilitating 125 out of 200 affected Bangladeshi workers from three companies that recently went bankrupt in Singapore, expressing deep gratitude to all remittance fighters in Singapore for strengthening the country’s economy by sending remittances through legal means.
Following the success of last year’s “Bangladesh Remitters’ Recognition 2025,” this year’s edition also honoured expatriate remittance warriors who made significant contributions to the country’s economy by sending remittances through legal or banking channels. To ensure a transparent, credible and merit-based selection process, the entire selection and invitation procedure was jointly coordinated and finalised by Mustafizur Rahman, CEO and executive director of Agrani Exchange House Pte. Ltd.; Mohammed Samiullah, executive director and CEO of Prime Exchange Co. Pte. Ltd.; and Mohammed Shahidul Islam, CEO and executive director of NBL Money Transfer Pte. Ltd.
In addition to honouring remittance senders, four organisations and one CIP were honoured for their transformative contributions to community development, economic growth, and bilateral friendship in Singapore. The organisations receiving honours are the trade body Bangladesh Business Chamber of Singapore, the voluntary organisation Singapore Bangladesh Society, Migrant Mutual Aid and The Wandering Dervishes. On behalf of the respective organisations, the awards were accepted by Altaf Hossain, president of the Singapore Bangladesh Society; Mohd Shahiduzzaman, president of the Bangladesh Business Chamber of Singapore; Agrani Exchange House Private Limited on behalf of Sudesna Roy Chowdhury, president of Migrant Mutual Aid; and Dr Muntasir Mannan Choudhury, president of The Wandering Dervishes. Recognised as a CIP was Mohd Shahiduzzaman, president of the Bangladesh Business Chamber of Singapore.
In the individual category, honoured for sending the highest amount of remittances through the National Bank Exchange House under the “By Volume” category were Md Rezaul Karim, Nazmul Arefin and Sabuj Md Omar Faruk. Meanwhile, receiving honours under the “By Frequency” category for sending remittances the highest number of times from the same institution were Mohammed Babul and Mohammad Jamiul Islam.
Accepting awards as the highest remittance senders (“By Volume”) through Agrani Exchange House were Abdus Sattar and Mohammad Ferdous Hossen. On the other hand, receiving honours in the “By Frequency” (highest number of times sending remittances) category were Md Akram Hossain, SM Arifur Rahman, and the sole female winner, Saima Akter.
Accepting honours on behalf of Prime Exchange House for sending the highest remittances (“By Volume”) were Mohammad Rasadur Rahman, Shahidul Islam and Khorshed Alam Chowdhury. Receiving awards in recognition of sending remittances with the highest frequency (“By Frequency”) were Mohd Shaleh Joha and Riad Sarker.
In recognition of their cooperation and contribution to the success of the event, crests and honours were accepted by strategic partners and other representatives, including Mustafizur Rahman, CEO of Agrani Exchange; Mohammed Samiullah, CEO of Prime Exchange; Mohammad Shahidul Islam, CEO of NBL Money Transfer Private Limited; and Kamrul Islam, general manager (Public Relations) of US-Bangla Airlines. The honours were handed over to them by State Minister for Foreign Affairs Shama Obaid Islam and other attending guests.
Addressing and greeting the expatriate Bangladeshis in Singapore, special guest Gurmukh Singh Thakral, managing director of the Thakral Group, said that their relationship and friendship with Bangladesh date back to 1972. They have been a part of Bangladesh for a long time and have been working with Bangladesh from day one, trying to stand by Bangladeshis with our utmost effort, he further said. He is truly delighted and grateful to be a part of this award ceremony organised for Singapore expatriate Bangladeshis. Basab Bagchi, executive director of Thakral Information Systems Bangladesh, also spoke at the event.
Describing expatriate Bangladeshis as the behind-the-scenes heroes of the nation’s economic progress, distinguished guest and Agrani Bank PLC Chairman Syed Abu Naser Bukhtear Ahmed noted that they play a vital role in strengthening the country’s foreign exchange reserves and driving sustainable national development. The exchange house (Agrani) in Singapore remains steadfast in its commitment to delivering expatriates’ hard-earned money safely to their loved ones through a strong global network.
Speaking as a distinguished guest, Dr Melita Mehjabeen, chairman of National Bank PLC and Professor at IBA, said that expatriate Bangladeshis who are sending even $1 each back to the country are playing a vital role in Bangladesh’s economy, having a multidimensional positive impact. This money might be used for a child’s education or spent on a family’s medical treatment, through which someone perhaps gets a new lease on life. Remaining abroad, she has witnessed with her own eyes how strong the sense of responsibility remitters hold toward the country and its people. Over the past two years, they have fully grasped the true importance of remittances, she added.
Highlighting the importance of a “Wage Earners Card” for expatriates, ASM Shahidullah Khan, chairman of One Bank PLC and a distinguished guest at the remittance award ceremony, said that to transform remittances into a national asset, a ‘Wage Earners Card’ could be created for expatriates, involving them in savings and investment. The card can be issued by linking it with the National Identity Card database during registration for overseas employment. Alongside the existing CIP program, this card could serve as an expanded recognition framework, through which government services, airport facilitation, healthcare and insurance benefits can be provided, he noted.
Highlighting the struggles of remitters’ lives, love for the country and the significance of the money they send to the economy, Faisal Rahman, chief executive officer of Prime Bank PLC, said that when discussing remittances, they often focus solely on statistics and economic growth, but behind every transaction lies a story of self-sacrifice, prolonged hard work and the pain of being away from loved ones. With an unwavering commitment to building a better future, they remain engaged in work while separated from their families during the most important times of their lives.
Highlighting the importance of the business environment and investment in Bangladesh, Basab Bagchi, executive director of Thakral Information Systems Bangladesh, said that when running an institution, many people’s primary focus is business profit and loss or the ‘bottom line.’ But as a foreign company, his perspective has always been a bit different. He used to say to stay well, stay healthy, and remain steadfast in the position even during times of change. Even during the time of regime change in Bangladesh, he always encouraged them to continue investing in the assets. He repeatedly said, this is the very time when Bangladesh will be built. Keep investing, grow the team, and expand the business. This institution will one day turn into one of the largest companies in Bangladesh.
Emphasising the importance of remittances sent from Singapore to Bangladesh’s economy, Mustafizur Rahman, CEO and executive director of Agrani Exchange House Pte. Ltd., stated that when a single dollar from Singapore goes to Bangladesh, it converts to nearly BDT 99. When BDT 99 is added to Bangladesh’s economy, its economic value increases a hundredfold. The dollars from there are contributing to Bangladesh’s economy, resulting in reduced unemployment in the country, improvement of the rural economy, increased market value, and heightened purchasing power, he added. It is also boosting the country’s foreign exchange reserves.
Mohammed Samiullah, CEO of Prime Exchange Co. Pte. Ltd., said that due to the dedication of expatriates, millions of families in Bangladesh can educate their children, and new businesses are starting up, making major contributions to the country’s economy. Every remittance fighter present there is the pride of Bangladesh and the silent hero of its economic progress. Remittance is not merely the transfer of numbers (money); it is also the transfer of love, hope, precious moments, holding onto joy and responsibility. Embracing this belief, both Prime Bank and Prime Exchange are committed to delivering the hard-earned money safely and efficiently to the loved ones.
Highlighting the contribution of Bangladeshi workers in Singapore’s construction industry, Joseph Tan, advocate and solicitor at the legal consultancy firm Dominion LLC, said that you will rarely find a construction site in Singapore that does not bear the touch of a Bangladeshi worker’s hands. It is also unfortunate that any construction work carries an inevitable risk of these workers suffering casualties or injuries. Dominion LLC acts on behalf of many such workers. They are working to ensure that compensation funds for these workers are safely and precisely delivered to workers’ families residing in Bangladesh.
Reaffirming its commitment to always standing by expatriates, Kamrul Islam, general manager (public relations) of US-Bangla Airlines, said that wherever Bangladeshi expatriates may be in the world, if any Bangladeshi organisation honours them, US-Bangla will always be by their side. This effort will continue in the future. When the company heard about this event centred around remittances, US-Bangla agreed to participate without a second thought. Last year, too, US-Bangla tried to stand by such an initiative, he noted.
Others present at the event included Dewan Hossne Ayub, director general of the South-East Asia Wing at the Ministry of Foreign Affairs; Luthfun Nahar, chargé d'Affaires of the Bangladesh High Commission in Singapore; and Philip Ong, Singapore’s High Commission and designated Chargé d'Affaires to Bangladesh. Representatives from government and financial institutions of both Bangladesh and Singapore, officials of the Bangladesh High Commission and expatriate Bangladeshis attended the award ceremony.