FE Circular No. 10: Repatriation facilities by PSPs to ITES exporters

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 10 Date: January 26, 2025 All Authorized Dealers in Foreign Exchange and all licensed Payment Service Providers in Bangladesh Dear Sirs, Repatriation facilities by PSPs to ITES exporters Please refer to FE Circular No. 06 of February 10, 2021 and its subsequent relevant circulars in terms of which licensed Mobile Financial Service Providers (MFSPs) are allowed to repatriate export proceeds against small value service exports in non-physical form such as data entry/data process, offshore IT service, business process outsourcing etc. in association with internationally recognized OPGSPs/digital wallets and/or aggregators abroad (referred to as foreign payment service providers, PSPs). 02. To widen the scope, it has been decided to include Payment Service Providers (PSPs) licensed by Bangladesh Bank as facilitators for repatriation of small value export proceeds against legitimate IT related service exports in association with foreign PSPs. 03. Authorized Dealers (ADs) are advised to provide necessary support to licensed PSPs intending to provide repatriation services for service exports in terms of provisions contained in FE Circular No. 06/2021 and subsequent relevant circulars. 04. In accordance with the above decision, the scope of FE Circular No. 06/2021 shall stand extended. Please bring the contents of this circular to the notice of your concerned constituents. Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123