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Dhaka Monday July 30 2012
Remittance from UK may rise this month
due to Olympics
Shafiqul Islam Jibon
London Olympic may well impact the country's remittance income, though temporarily, as the world event is taking place in East London, where most Bangladeshi immigrants live, officials of the central and other commercial bank have said.
According to reports received here, the London Olympic has created more than 50 thousand of jobs where Bangladeshis received priority as per the decision of the British government as the event was organized in East London where 60 per cent residents are Bangladeshis.
They said that more than two thousand Bangladeshi immigrants got Olympic official jobs through the government and local tower hamlets council in recent days.
In addition, thousands of Bangladeshi businesses, including restaurants got significant business boost since the Olympic began.
Restaurant owners have decided to keep their business open for 24 hours and seven days a week during the Olympic events as the London authority has declared the Brick Lane, the hub of Bangladeshi restaurants in East London, as the curry capital of London.
All London-based Bangladeshi restaurant owners have recruited additional staff to run their business smoothly as half a million new tourists have gathered in London for the Olympic.
A lot of small businesses of Bangladeshis, including popular Sunday trading in petty court market near the commercial street, hawkers markets in Whitechapel, Stratford Broadway, Witney, Shadwell or Forest gate around the Olympic venue are also drawing a crowd of tourists.
The reports added that house rent in East London gone up at least 4 times this week as tourists are hovering to manage budget accommodation near the Olympic park in Stratford in East London.
Weekly House rent of a one bed room flat has been accelerated to at least 1000 pounds this week from normal 200 pounds a week ago. Eighty per cent of house owners in east London are Bangladeshis. Rooms or seats are now available for night basis with 100 to 150 pounds. Normal hotel rent in East London varies between 40 and 50 pounds per night.
Hundreds of Bangladeshi students and other migrants are busy in selling soft drinks or snacks in the parks or streets to earn some extra bucks.
"As a whole east London has become the busiest place in the world for the Olympic event where 60 per cent of residents are Bangladeshis," executive director of Media Mohol, an east London-based publication and consultancy firm told the FE Sunday.
Every Bangladeshis are putting in their all efforts to earn some extra money out of the Olympic, he said.
The London Olympic may well impact the remittance income this month, a senior official of the Bangladesh Bank told the FE.
Normally the remittance income from the overseas Bangladeshi workers and immigrants increases during the month of Ramadan and Eid.
It is al so encouraging that the Olympic has started during the month of Ramadan and it will end on August 12 next before the biggest Muslim festival of Eid-ul-Fitr, he said.
" Country's largest individual remittance collector, the Islami Bank Bangladesh Ltd (IBBL) receives at least 7.0 per cent of their total remittance from the UK every month. This percentage may hopefully increase this month for the Olympic event in London,'' a senior executive of the IBBL told the FE.
The UK is the 5th largest remittance sending country for Bangladesh. Currently, Bangladesh is receiving in an average $80 million of remittance every month from the UK.
The country has received a total $954.75 million of remittance from the UK out of a
grand total $12.84 billion in the last fiscal year (2011-12), the BB official said.
Remittance from UK may rise this month due to Olympics
Remittance from UK may rise this month
due to Olympics
Shafiqul Islam Jibon
London Olympic may well impact the country's remittance income, though temporarily, as the world event is taking place in East London, where most Bangladeshi immigrants live, officials of the central and other commercial bank have said.
According to reports received here, the London Olympic has created more than 50 thousand of jobs where Bangladeshis received priority as per the decision of the British government as the event was organized in East London where 60 per cent residents are Bangladeshis.
They said that more than two thousand Bangladeshi immigrants got Olympic official jobs through the government and local tower hamlets council in recent days.
In addition, thousands of Bangladeshi businesses, including restaurants got significant business boost since the Olympic began.
Restaurant owners have decided to keep their business open for 24 hours and seven days a week during the Olympic events as the London authority has declared the Brick Lane, the hub of Bangladeshi restaurants in East London, as the curry capital of London.
All London-based Bangladeshi restaurant owners have recruited additional staff to run their business smoothly as half a million new tourists have gathered in London for the Olympic.
A lot of small businesses of Bangladeshis, including popular Sunday trading in petty court market near the commercial street, hawkers markets in Whitechapel, Stratford Broadway, Witney, Shadwell or Forest gate around the Olympic venue are also drawing a crowd of tourists.
The reports added that house rent in East London gone up at least 4 times this week as tourists are hovering to manage budget accommodation near the Olympic park in Stratford in East London.
Weekly House rent of a one bed room flat has been accelerated to at least 1000 pounds this week from normal 200 pounds a week ago. Eighty per cent of house owners in east London are Bangladeshis. Rooms or seats are now available for night basis with 100 to 150 pounds. Normal hotel rent in East London varies between 40 and 50 pounds per night.
Hundreds of Bangladeshi students and other migrants are busy in selling soft drinks or snacks in the parks or streets to earn some extra bucks.
"As a whole east London has become the busiest place in the world for the Olympic event where 60 per cent of residents are Bangladeshis," executive director of Media Mohol, an east London-based publication and consultancy firm told the FE Sunday.
Every Bangladeshis are putting in their all efforts to earn some extra money out of the Olympic, he said.
The London Olympic may well impact the remittance income this month, a senior official of the Bangladesh Bank told the FE.
Normally the remittance income from the overseas Bangladeshi workers and immigrants increases during the month of Ramadan and Eid.
It is al so encouraging that the Olympic has started during the month of Ramadan and it will end on August 12 next before the biggest Muslim festival of Eid-ul-Fitr, he said.
" Country's largest individual remittance collector, the Islami Bank Bangladesh Ltd (IBBL) receives at least 7.0 per cent of their total remittance from the UK every month. This percentage may hopefully increase this month for the Olympic event in London,'' a senior executive of the IBBL told the FE.
The UK is the 5th largest remittance sending country for Bangladesh. Currently, Bangladesh is receiving in an average $80 million of remittance every month from the UK.
The country has received a total $954.75 million of remittance from the UK out of a
grand total $12.84 billion in the last fiscal year (2011-12), the BB official said.
Remittance from UK may rise this month due to Olympics
Amazing thread .....
