FEPD Circular Letter No. 06: Purchase of Wage-Earner Development Bonds out of Taka fund against inward remittance sent by wage earners

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