Remittances from the UK to Bangladesh have dropped by at least half, according to the several money transfer exchanges in London.

It has been reported that many expatriates have reduced the amount of money sent to the country even after the call for the remittance shut down program of the expatriates came due to the ongoing quota movement in the country.

It is unclear how many Bangladeshis living abroad are participating in the boycott or how much remittances may reduce. 

Apart from this, there are complaints of not being able to provide money to the customers as per the demand in different banks of the country. As a result, most expatriates are worried about sending money. They are repeatedly communicating with the officials of the money transfer company's. 

In this regard, Abdul Munim Khan, who lives in the city of London, UK, told the Daily Dazzling Dawn, We know that remittance or expatriate income is one of the most dependent indicators of the progress of Bangladesh's economy. But many expats like me don't send money to them because we are worried about what might happen in a sudden situation. 

A London expatriate named Zaheed Ahmed said that there is a liquidity crisis in the country's banks. No bank is able to pay two lakhs at once. So I am not sending money to the country for now. Many people I know are in danger by sending money. Their families are not receiving the full amount of remittances. 

Commenting on this matter, Mohammad Jasim Uddin, CEO of Exim Exchange in London, told the Daily Dazzling Dawn on Friday that remittances have decreased by at least sixty percent in the last few days. 

PBL Exchange MD Mahbubur Rahman Shiblu said on Friday that at least 70 percent of remittances have decreased. Not more than two or three transactions are taking place throughout the day. On the contrary, expatriates are contacting us to bring money to London from money, bonds, or fixed deposits in the country's banks.

However, Manwar Hossain, CEO of IFIC Money Transfer, owned by IFIC Bank in London, said that the holiday season is going on in Britain. People are on holiday. Because of that, remittance flow has decreased. It is not just because of remittance shut down or some schedule that the remittance flow has decreased.

Remittances are the South Asian nation's second-biggest source of foreign currency. Bangladesh is already struggling with a foreign exchange crisis.