Regulatory Alerts2022-01-20
Added
FEPD Circular Letter No. 04: Cash incentive against wage earners' remittance through legal channel
Bangladesh Bank has decided to provide remittance incentives or cash assistance at existing rates for expatriates' foreign income repatriated through legal channels. This incentive applies to specific income types including retirement benefits (such as pension funds), provident funds, leave salary, and bonuses or other gratuities paid by employers. All remitted funds must have their source of income confirmed by documentary evidence and be immediately converted into Taka. This instruction is effective from its issuance date, and other directives from FE Circular No. 31 dated 06/08/2019 and subsequent circulars remain unchanged for all scheduled banks.
Topics
fx
payments
Share