Regulatory Alerts2014-02-19
Added · Updated
FEID Circular Letter No. 01: Inward Remittance against agency services on one-off basis
Authorized Dealers (ADs) in Bangladesh may encash inward remittances for agency services on a one-off basis without prior approval from Bangladesh Bank, provided they verify the genuineness of the request through documents such as invoices and agreements and deduct all applicable taxes. This exemption applies only to one-off transactions; continuous agency service providers earning commissions must still obtain permission under Section 18A of the Foreign Exchange Regulation Act, 1947.
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