RegAlertRule · BB · 21 Jan 2021
Clarification on Endorsement of Foreign Exchange on Passports
Authorized Dealers must endorse passports when releasing foreign exchange in cash or non-cash forms, such as international cards, from eligible travel entitlements. This endorsement requirement applies to all persons except those holding foreign passports, who may release foreign exchange in non-cash forms from private foreign currency accounts without endorsement. Official visits remain exempt from the endorsement requirement, and the threshold limit for USD notes continues to apply.
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
Circular Letter No. 01 Date: Janurary 21, 2021
Head Offices/Principal Offices of All
Authorized Dealers in Bangladesh
Dear Sirs,
Endorsement of foreign exchange on passports
Please refer to paragraph 1, chapter 12 of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Vol-1 regarding release of foreign exchange against travel entitlement and endorsement of the same on passports other than official travels by concerned officials. The paragraph stipulates with instruction to Authorized Dealers (ADs) to release up to 5,000 in the form of USD notes and remainder in other convertible currencies within the prescribed limit.
02. This is to clarify that endorsement on passports is applicable against release of foreign
exchange either in cash or in non-cash form like international cards, etc. or both out of eligible entitlements of travels. The endorsement is equally applicable for release of foreign exchange in cash irrespective of entitlements/sources to persons other than those holding foreign passports. However, foreign exchange can be released without endorsement on passports in non-cash form like international cards, etc. out of balances held in private foreign currency accounts and resident foreign currency deposit accounts of concerned account-holders as per Section 1 and 3, chapter 13 of GFET. As usual, ADs shall comply with threshold limit in case of release of foreign exchange in USD notes and official visits shall remain out of the purview of endorsement. Please bring the above clarification to the notice of your concerned clientele. Yours faithfully, (Md. Ali Akbar Faraji) General Manager Phone: 9530123
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
More like this from BB
We email you every new BB publication the day it's published.
Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated
FX rules change often. Get an email the day any regulator we track changes its foreign-exchange rules.