RegAlertRule · BB · 20 Jan 2022
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.
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka. www.bb.org.bd
FE Circular Letter No. 04 Date: ------------------- Chief Executive/Managing Director All Scheduled Banks operating in Bangladesh. Dear Sirs, Drawing the attention of all concerned to the subject matter, it is hereby informed that, in accordance with the government's decision, to encourage the repatriation of expatriates' hard-earned foreign income through legal channels, the decision has been taken to provide remittance incentives/cash assistance at the existing rates against the following incomes sent to the country through legal channels:
a. Retirement benefits such as pension funds; b. Provident fund;
c. Leave salary;
d. Bonus and other gratuities, paid by employer; e. Retirement benefits;
02. The source of income for the remitted funds must be confirmed based on documentary evidence and must be compulsorily converted into Taka immediately upon realization.
03. This instruction shall be deemed effective from the date of issuance of this circular letter.
04. Other instructions of FE Circular No. 31 dated 06/08/2019 and subsequent circular letters issued in continuation thereof, regarding incentives/cash assistance against remittances, shall remain unchanged.
05. All concerned parties are advised to be informed in this regard.
Yours faithfully,
(Kazi Rafiqul Hasan)
General Manager
Phone: 9530123
Regarding the provision of cash assistance against remittances sent through legal channels. 06 Magh, 1428 20 January, 2022
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
More like this from BB
We email you every new BB publication the day it's published.
Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated
FX rules change often. Get an email the day any regulator we track changes its foreign-exchange rules.