Bangladesh Keyword: Inward Remittances

Circular No. 11 dated 19 September 2023 issued by the Foreign Exchange Policy Department of the Bangladesh Bank on “Inward Wage Remittances by Licensed Payment Service Providers”
September 28, 2023

To boost the inflow of remittances and allow for more flexibility, the Bangladesh Bank has granted permission to licensed payment service providers (“PSPs”) to facilitate the receipt of wage remittances from abroad in collaboration with globally-recognized online payment gateway service providers, banks, digital wallets, card networks, and foreign PSPs. To implement this, PSPs will be […]

Circular No. 10 dated 21 June 2023 issued by the Foreign Exchange Policy Department of the Bangladesh Bank on “Maintenance of Foreign Currency Accounts for Foreign Investment”
July 4, 2023

Aiming to facilitate foreign exchange transactions related to foreign investments in Bangladesh, the Bangladesh Bank has decided that authorized dealers (ADs) are permitted to retain foreign currency received from foreign investors. ADs can open foreign currency (FC) accounts in the names of local companies, which will issue shares in compliance with regulatory instructions. Under the […]

Circular No. 03 dated 22 February 2023 issued by the Foreign Exchange Policy Department of the Bangladesh Bank on “Raising of the Limit for Declaration on Form C of Inward Remittances”
March 4, 2023

Aiming to facilitate inward remittances, the threshold for having to declare inward remittances on Form C has been raised from US$10,000 to US$20,000 or its equivalent. In addition, no declaration is required for inward remittances sent by Bangladeshi nationals working abroad.