Muscat – Remittances from Oman to Bangladesh have seen a significant decrease in recent weeks owing to the ongoing political unrest in the country. 

Student protests against a job reservation bill escalated into nationwide unrest, followed by a crackdown by the government of Prime Minister Sheikh Hasina who resigned and fled Bangladesh on Monday. 

Bangladeshis living overseas, including those in Oman, have become wary of remitting money back home owing to security reasons and uncertainty of the funds reaching the intended receiver. 

Speaking to Muscat Daily, an official at Lulu Exchange said, “In the last few weeks, we have observed a significant fall in remittances to Bangladesh. This is due to the protests and the people’s unwillingness to support the government.” 

A similar trend was observed by an official from Unimoney.  “There has been a steady decline in remittances to Bangladesh from Oman in recent weeks.”

Muscat based Bangladeshi expat Mohammad Islam hasn’t remitted money home this month and has decided not to do so for a few more days. “I will not send money because the banks are not releasing the full amount promptly.”

Ghubra based Gassuddin Rehman said, “As a businessman, I am extremely concerned about the current political crisis in Bangladesh. Even after the escape of Sheikh Hasina, things are uncertain. The instability has made the roads, supermarkets and banks unsafe, with frequent reports of looting and imposition of curfews adding to the chaos.”

He added, “Also, unpredictable bank closures and reduced staff make transactions risky. Given these circumstances, I am holding back on remitting until the situation improves and I am sure my money is safe.”

Others are holding back from remitting in the current situation owning to the fact that the funds itself may put the receiver at risk. 

Civil engineer Shakeb Khan said, “The distance from the bank to my home is almost 8km and often it is tough to get transport. My parents are senior citizens and I don’t want to risk their lives.”

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