Regulatory Alerts2026-07-22
Added · Updated
FEPD-1 Circular No. 22: Foreign Exchange Transactions by Freelancers/Individual Service Exporters
This circular consolidates regulations for foreign exchange transactions by freelancers and individual service exporters, exempting them from physical goods export procedures like EXP Forms while requiring electronic evidence for payment verification. Authorized Dealers may credit payments up to USD 20,000 without Form-C, mandate online Form-C for amounts exceeding this threshold, and facilitate repatriation through Online Payment Gateway Service Providers with a per-transaction limit of USD 10,000. Service exporters are permitted to retain up to 50% of net earnings in foreign currency for ICT-related services and 30% for other legitimate services in Exporters’ Retention Quota accounts, with the remainder mandatorily converted to Taka. The document prohibits retaining export proceeds abroad in any form other than approved notional accounts and requires strict adherence to KYC, AML/CFT standards, and tax deduction obligations.