RegAlertRule · BB · 25 Mar 2018
FEPD Circular Letter No. 06: Purchase of Wage-Earner Development Bonds out of Taka fund against inward remittance sent by wage earners
This clarification confirms that Taka funds credited to non-resident Taka accounts of Bangladesh nationals residing abroad, or to resident Taka accounts of their beneficiaries, are eligible for the purchase of Wage-Earner Development Bonds. This eligibility applies to funds received against inward remittances through normal banking channels or authorized exchange house channels. Authorized Dealers in Bangladesh are instructed to disseminate this clarification to their concerned constituents.
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular Letter No. 06 Date: 25 March 2018 Head Offices/Principal Offices of All Authorized Dealers in Bangladesh Dear Sirs, Purchase of Wage-Earner Development Bonds out of Taka fund against inward remittance sent by wage earners Please refer to paragraph 12 of the Wage-Earner Development Bond Rules, 1981 regarding methods of payment wherein Taka currency received against inward remittance is permissible for purchase of Wage-Earner Development Bond (WEDB). Despite the above instruction, misunderstanding is observed regarding utilization of fund held in Taka accounts fed by inward wage remittances for purchase of WEDB. This is to clarify that Taka fund credited in non-resident Taka account of Bangladesh nationals residing abroad or in resident Taka accounts of their beneficiaries against inward remittances through normal banking channel or authorized exchange house channel is eligible to purchase WEDB in accordance with the instructions of the Rules. Please bring the above clarification to all your concerned constituents. Faithfully yours, (Md. Enamul Karim Khan) Deputy General Manager Phone: 9530298
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