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Bangladesh supplied 42.70% of Malaysia's foreign workforce, deploying 472,476 workers between 2022 and 2024. Driven by 1,500 RM minimum wages, remittances spiked 71% to $1,744.40M in FY 2023-24, lifting Malaysia to 5th place. Over 2,000 migrated via employer-paid zero-cost models.
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The 2021 MoU sent 476,672 Bangladeshi workers to Malaysia via 101 approved agencies and the digital FWCMS platform. While designed for transparency, political pressure allowed unlisted associate agencies to join, inflating migration costs to 500,000 BDT. Experts urge removing these intermediaries.
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To appease non-listed agencies, Bangladesh allowed "associate partners" into the recruitment chain. This extra layer of middlemen has doubled migration costs for Malaysia-bound workers, threatening country credibility.
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In the first 14 days of September 2024, Bangladesh received $1.167B in remittances, with private banks dominating at over 70% ($816.94M) due to diaspora outreach and a shift from informal channels. State banks followed at $297.27M, putting the month on track to exceed $2.5B.
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Nearly 500,000 Bangladeshi workers legally moved to Malaysia (2022–24) but paid 5–6 lakh BDT each triple the regulated fee. Over 735 unauthorized agencies drove up costs via illegal visa trading outside a 2021 MoU. Despite ministry orders, about 75% of workers have yet to receive refunds.
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A 2021 MoU between Bangladesh and Malaysia safely deployed 476,672 workers via 101 authorised agencies. Managed under a 5-stage pipeline with dual-government oversight, the architecture ensured accountability through bilingual contracts, BMET clearance, and ongoing agency responsibility.
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Under the 2021 MoU and 2022 JWG agreement, 101 approved agencies deployed 472,476 Bangladeshi workers to Malaysia in under two years. Using an automated 5-step process, this structured model eliminated quota trading and propelled Malaysia from 8th to 4th place in Bangladesh's remittance rankings.
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Bangladesh's approved pool of 100 recruitment agencies for Malaysia has collapsed due to legal troubles. As Malaysia reopens its labor market, Dhaka risks losing this key corridor to ready rivals Nepal and Indonesia.
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Driven by the 2021 MoU and 476,672 worker placements, Bangladesh’s remittance from Malaysia jumped 71% to $1,744.4M in FY 2023-24, rising to 4th place. FY 2024-25 is on track for $3B based on a 1,700 Ringgit minimum wage. A structured reopening could deploy 1M workers over 5 years.
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In May 2024, Bangladesh dispatched a record 45,031 workers to Malaysia, outpacing 14 rival nations combined (44,075). Despite peak Hajj-season airline constraints, BAIRA deployed emergency chartered flights to secure this logistical milestone.
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In 22 months, nearly 500,000 Bangladeshi workers migrated to Malaysia under a digital recruitment system, boosting Malaysia from 8th to 4th in remittance sources. Channeling 285 billion BDT annually through formal banking.
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Unauthorized shadow agencies bypassed Bangladesh's 101 approved firms using fake demand letters and forged documents. They charged workers over 500,000 BDT each for Malaysian visas and vanished before the June 1 deadline, leaving hundreds stranded with zero accountability.