Regulatory Alerts2019-10-21
Added · Updated
FE Circular No. 41: Release of foreign exchange for performing Umrah Hajj
Authorized Dealers in Bangladesh may effect outward remittances on behalf of licensed Umrah Hajj agents to official service providers in the Kingdom of Saudi Arabia against sold packages, subject to obtaining compliant sales documents and retaining foreign exchange in margin accounts. Pilgrims may arrange foreign exchange from annual travel entitlements, RFCD account balances, or Foreign Demand Drafts favoring licensed agents, with service charges settled in Taka. Additionally, Authorized Dealers may release unused travel entitlement in cash to meet pilgrims' needs during their stay in KSA, while maintaining standard due diligence and reporting obligations.
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