Dhaka, Sept. 8 -- Bangladesh is estimated to lose nearly $1.48 billion (Tk 162 billion) every year in remittance outflows due to excessive transfer fees, hidden costs, and unfavorable exchange rates, according to international fintech company NALA.

This figure accounts for 2.025 percent of the national budget and 0.33 percent of the country's GDP.

The information was disclosed at a special Meet the Press event hosted by NALA, an international fintech and money transfer app, to showcase its activities and future roadmap in Bangladesh. The event took place on Saturday at a Dhaka hotel.

Globally, remittance flows reached almost $905 billion in 2024. However, high transaction fees, hidden deductions, and poor exchange rates caused an estim...