Regulatory Alerts2024-10-17
Added
FE Circular No. 22: Outward remittances on account of cloud and other related service usage fees
Authorized Dealers in Foreign Exchange in Bangladesh are permitted to effect outward remittances on behalf of arranger-customers for cloud services, IT infrastructure, and remote software applications, extending the framework of FE Circular No. 51/2020. Authorized Dealers must obtain justification for sourcing these services from abroad, verify bonafide business requirements, and conduct due diligence to ensure valid agreements and legitimate collections. This authorization applies subject to any required approvals from competent authorities and requires compliance with the instructions contained in FE Circular 51/2020.
Topics
fx
payments
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