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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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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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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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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.