FEPD Circular Letter No. 04: Cash incentive against wage earners' remittance through legal channel

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