NRBs could play a bigger role in trade and investment into Bangladesh

Non-Resident Bangladeshis (NRBs) could play a key role in strengthening Bangladesh’s political, economic and social relations with many countries in the world where a sizeable Bangladeshi diaspora lives, works, does business and contributes to their host countries, such as Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait, Oman, United Kingdom, Germany, United States, Japan, Australia and New Zealand.

In 2022, an NRB-led Bangladesh Economic Forum facilitated a US$100 million investment into a joint venture jewellery industry to be set up by Dubai-based Malabar Gold and Diamonds – the first of its kind jewellery manufacturing industry in Bangladesh that will use raw gold and produce export-grade jewellery to be exported to the international markets. The project is currently under implementation stage.

The size of Bangladeshi diaspora has exceeded 1.5 million worldwide, who send more than US$30 billion remittances per year, in recent years. In addition to sending increased remittances, they are climbing up in corporate ladders and taking up senior positions – and in some cases leadership positions by dint of their hard work and professionalism while a large number of them are developing businesses and contributing to the host countries’ economies.

In 2025, Bangladesh witnessed a historic, record-breaking surge in remittance inflows, totalling over US$32.8 billion for the calendar year — a roughly 22 percent increase over the previous year's US$26.88 billion. This surge was driven by increased use of formal banking channels and bolstered foreign currency reserves to over US$33 billion.

In the UAE, for example, more than 1.2 million Bangladeshis remit more than US$4.5 billion remittances annually. And the figure is rising every year. The upward trend continued into the 2025-26 fiscal year, with over US$22.45 billion in remittances entering in the first eight months.

The consistent, high-volume inflow of over US$3 billion per month in late 2025 and early 2026 has been crucial in stabilising the Bangladeshi Taka against the US Dollar and strengthening the nation's foreign exchange reserves.

While foreign remittance helps Bangladesh economy in stabilising the currency value and the balance of payment amid rising import bills, the collective strengh of the NRBs could be utilised to achieve greater economic objectives.

For a long time, Bangladesh’s successive governments have considered the NRBs as a mere source of remittance and foreign exchange only. Nothing more. The government’s policy of recognising some of them in the annual Commercially Important Persons (CIPs) ranking is also based on the narrow criteria of the amount of remittance one sends in a year and the level of imports to their countries from Bangladesh.

It doesn’t include the professionalism, leadership in corporate world, innovation, social contribution, skills or their ability to attract investment into Bangladesh. But the NRBs have also matured over the last four and half decades and they now possess higher economic potentials that could help Bangladesh in many ways.

Bangladeshis in the UAE own more than 150,000 businesses and employ roughtly around 500,000 professionals. If they are organised with proper leadership, mentoring and guidance, they could become a great national asset for Bangladesh and could become an important bridge between Bangladesh and the UAE economy. If utilised their collective strengths Bangladesh could benefit in many ways from their resources.

First, they could become investors in Bangladesh’s 100 Economic Zones and 35 High-Tech Parks as well as Export Processing Zones by establishing industries and help transfer new technologies into their factories in Bangladesh.

Second, their business networks could be utilised to attract more UAE investment into Bangladesh to create industries that will not only create employment, but also increase export earnings.

Third, their networks could be used to accelerate exports of goods from Bangladesh.

Bangladesh's total export earnings for the fiscal year 2024-25 (July 2024–June 2025) reached US$48.28 billion, marking an 8.58 percent growth compared to the previous fiscal year, with RMG contributing US$39.34 billion, including knitwear at US$21.15 billion and woven at US$18.18 billion.

Bangladesh could increase its export earnings by undertaking new policy initiatives involving the NRB traders spread across the world to buy more Bangladeshi products and sell to not only consumers, but to wholesalers and retailers. If Bangladeshi businesses in foreign countries start buying Bangladeshi products, the country’s export earnings will multiply faster.

Some of the great examples are Pran, Gentle Park, Ruchi, Tanjim and some more Bangladeshi brands that are now penetrating in the GCC markets. However, a solid government policy could help accelerate this in the coming years.