FE Circular No. 01: Issuance of International Debit/Prepaid Cards for EPZ and EZ Enterprises

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 01 Date: 12/01/2017 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Issuance of International Debit/Prepaid Card against balances held in Foreign Currency Accounts of Export Processing Zones (EPZs) and Economic Zones (EZs) Enterprise. Attention of the Authorized Dealers (ADs) is invited to paragraph 2, chapter 19 of the Guidelines for Foreign Exchange Transactions-2009 (GFET) in terms of which ADs may issue International Credit/Debit Card in favor of upto three (3) top level executives of an exporting firm/organisation against the balances held in the Exporters’ Retention Quota (ERQ) accounts. 02. In order to enhance the scope of business travel abroad by officials of enterprises located in EPZs and EZs, it has now been decided that card issuing banks may issue International Debit/Prepaid card upto three (3) top tier officials of concerned enterprise against balances held in foreign currency accounts maintained as per Paragraph 31, Chapter 13 of GFET and and FE Circular 22 dated: 09 August 2016. EPZs and EZs enterprises may avail such card facility from one card issuing bank only. 03. Other Instructions of Chapter 19 of GFET and FE Circular 22 dated: 09 August 2016 shall remain unchanged. This FE Circular is issued under authority of section 20(3) of the Foreign Exchange Regulation Act, 1947. Please bring the content of this circular to the notice of all concerned constituents. Yours Faithfully (Md. Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250