Regulatory Alerts2008-09-21
Added · Updated
FE Circular No. 10 : Payment through international card
The document expands the categories of foreign exchange entitlements against which Authorized Dealers in Bangladesh may issue International Credit, Debit, or Pre-paid cards to include balances in private foreign currency accounts, per diem entitlements for private sector participants attending seminars abroad, and personal Hajj entitlements for individual pilgrims. It mandates that cards issued against specific travel quotas must have their values endorsed on the passport by the issuing bank and prohibits the simultaneous use of mutually exclusive entitlement types for the same individual. The circular requires immediate reporting of card issuance via Appendix-1 and monthly submission of utilization statements and returns to the Foreign Exchange Policy Department and Statistics Department by the 12th of the following month. Additionally, it permits cardholders to pay mobile phone roaming bills directly to operators in Bangladesh using these international cards.
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