FE Circular No. 29: Release of foreign exchange for study abroad

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No.29 Date: 10 August 2017 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Release of foreign exchange for study abroad Please refer to paragraph 10, chapter 11 of Guidelines for Foreign Exchange Transactions￾2009 (GFET), Vol-1 read with paragraph 2 of FE Circular No. 10, dated August 03, 2009 and FE Circular No. 23, dated May 29, 2017 in terms of which Authorized Dealers (ADs) are allowed to release foreign exchange for admission and study abroad by Bangladesh nationals in favour of the educational institutions/designated intermediary payment processing entity. 02. It is observed that students intending to study abroad are in some cases required to make payment on account of Health Coverage/ Health Insurance/ Medical Insurance fee as overseas student for permissible courses as a pre-requisite of Visa/Admission. It has now been decided that ADs may also release foreign exchange on account of Health Coverage/ Health Insurance/ Medical Insurance fee provided that such fees are mandatory for Visa/Admission in permissible courses supported by documentary evidence (I-20, Admission Acceptance Letter, Offer Letter etc.) from the concerned educational institution. 03. Other instructions regarding release of foreign exchange for study abroad will remain unchanged. Please bring the contents of this circular to the notice of all concerned. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319