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Microfinance institutions will be an important instrument to earn more remittance, send remittance and utilize remittance in Bangladesh

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  • Sk. Mahmudul Alam, Mahmud
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    Abstract

    Remittance is called the life blood of Bangladesh economy. In Bangladesh it contributes much in reducing poverty. In a study of Institute of Microfinance led by Professor S.R. Osmani, we have seen that 4 % poverty of Bangladesh solely reduced by foreign remittance. Microcredit is another important tool in reducing poverty. In the same study, we have seen that microcredit solely reduced 4% poverty in Bangladesh. In Bangladesh microcredit will be an important tool in earning remittance. Microfinance Institutions in Bangladesh can play its role in two stages – a) pre-stage and b) post stage. In pre stage MFIs can work as an important source of money for migration and MFIs can also trained migrant worker according to their importers’ demand which helps workers to improve their efficiency. This helps Bangladesh to earn more remittance which helps in reducing poverty. In post stages MFIs can help migrant worker to send money and also work for proper utilization of this remitted money. This helps to create entrepreneurs which help to create employment, which help to reduce poverty in Bangladesh. This whole process is discussed in this paper elaborately.

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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 36459.

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    Date of creation: 12 Feb 2012
    Date of revision: 14 Feb 2012
    Handle: RePEc:pra:mprapa:36459

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    Keywords: Bangladesh; Microfinance Institutions; Microcredit; International Migration; Migrant Workers; Remittances; Development;

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    1. Mohapatra, Sanket & Joseph, George & Ratha, Dilip, 2009. "Remittances and natural disasters : ex-post response and contribution to ex-ante preparedness," Policy Research Working Paper Series 4972, The World Bank.
    2. Barua, Shubhasish & Majumder, Md. Alauddin & Akhtaruzzaman, Dr. Md., 2007. "Determinants of Workers’ Remittances in Bangladesh: An Empirical Study," MPRA Paper 15080, University Library of Munich, Germany.
    3. Sharma, Manohar & Zaman, Hassan, 2009. "Who migrates overseas and is it worth their while ? an assessment of household survey data from Bangladesh," Policy Research Working Paper Series 5018, The World Bank.
    4. Hiranya Nath & Khawaja A. Mamun, 2010. "Workers’ Migration and Remittances in Bangladesh," Working Papers 1002, Sam Houston State University, Department of Economics and International Business.
    5. Serdar Sayan, 2006. "Business Cycles and Workers' Remittances," IMF Working Papers 06/52, International Monetary Fund.
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