Regulatory Alerts2021-10-18
Added
FE Circular No. 33: Repatriation of export proceeds through Online Payment Gateway Service Providers
Authorized Dealers may allow service exporter-customers to maintain merchant accounts with international marketplaces or notional accounts with eligible foreign payment operators, payment facilitators, digital wallets, or other legitimate payment systems. Authorized Dealers must obtain detailed information, declarations on service nature, and undertakings for repatriation within the statutory period from these customers. Upon receipt of inward remittances, Authorized Dealers shall credit receipts in local currency or transfer funds to digital wallets, while complying with tax regulations and reporting routines to Bangladesh Bank.
Topics
fx
payments
Share