Dhaka: The government of Bangladesh is actively working to reduce the financial burden of overseas migration for its workers, aiming to bring down the costs to a maximum of Tk 3 lakh from the current range of Tk 10 lakh to Tk 14 lakh, as announced by State Minister for Foreign Affairs, Shama Obaed Islam. The announcement was made during her address at the ‘Bangladesh Remittance Awards 2026’ event held in Singapore.
According to United News of Bangladesh, Shama Obaed highlighted the challenges faced by expatriates due to unscrupulous businesses and syndicates that often force them to sell their assets to afford the current high costs of migration. She emphasized the government’s commitment to alleviate these financial pressures and ensure a more manageable migration process for workers.
In her speech, Shama Obaed acknowledged the significant contributions of the approximately 150,000 Bangladeshi workers currently employed in various crucial sectors in Singapore. She noted that Bangladesh received around $45 billion in remittances during the 2024-25 fiscal year, with Singapore accounting for about $475.03 million of that total.
The state minister also mentioned the government’s broader efforts under Prime Minister Tarique Rahman’s leadership, focusing on attracting new investments and creating employment opportunities in line with the ‘Bangladesh First’ policy. To support these initiatives, a dedicated Migration Wing has been established within the Ministry of Foreign Affairs to provide comprehensive services for migrants and ensure quick resolution of their issues.
Further collaboration between Bangladesh and Singapore is underway, with ongoing discussions on manpower and employment cooperation, skills development, re-employment, intra-company transfers, and ensuring fair working conditions.
Addressing the Bangladeshi expatriates, Shama Obaed urged them to utilize formal banking channels for remittances instead of informal methods like hundi, and to adhere to Singapore’s laws and cultural norms. She also encouraged responsible use of social media, avoidance of extremist activities, and respect for linguistic and religious diversity, while emphasizing continuous skill development in technology and languages.
During the event, 15 exemplary Bangladeshi expatriates were honored as ‘remittance warriors’ for their significant contributions, along with recognitions for four organizations, two Commercially Important Persons (CIPs), and three leading exchange houses affiliated with Bangladesh-based banks in Singapore. The awards were presented by the state minister in the presence of representatives from government and financial institutions, officials from the Bangladesh High Commission, and members of the expatriate community.