RegAlertRule · BB · 11 Mar 2020
FEPD Circular Letter No. 08: Regarding Disbursement of Cash Incentive against Inward Remittances sent through legal channel
The document clarifies that cash incentives are payable on inward remittances sent through legal channels by Bangladeshi personnel working at foreign offices of Bangladeshi shipping and airline lines, as well as by Bangladeshi mariners and air traffic pilots working for foreign shipping and airline lines. It further specifies that Bangladeshi employees working at United Nations, other organizations, or foreign missions abroad are eligible for cash incentives on their foreign earnings remitted to the country. These clarifications reinforce the existing directives issued in FEPD Circular No. 31 dated 06/08/2019 and subsequent letters.
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.
FEPD Circular Letter No.-08 Date: -------------------------
To,
Chief Executive/Managing Directors
All Scheduled Banks operating in Bangladesh.
Dear Sirs,
In reference to FEPD Circular No.-31 issued on 06/08/2019 regarding the "Policy Guidelines for Providing Incentive/Cash Assistance against Remittance Sent through Legal Channels", the following matters are clarified:
a) Cash assistance shall be payable against remittances sent through legal channels for foreign income by Bangladeshi personnel working at foreign offices of Bangladeshi shipping lines/airlines (excluding entities owned by the Bangladesh Government or government-owned institutions) and by Bangladeshi mariners/air traffic pilots working at foreign shipping lines/airlines.
b) Bangladeshi employees working at various countries around the world - at the United Nations or other organizations/institutions and foreign missions (excluding entities owned by the Bangladesh Government or government-owned institutions) shall receive cash assistance on such income, provided they remit their foreign earnings through legal channels to the country while staying abroad.
-
The instructions contained in the previously issued FEPD Circular No.-31 dated 06/08/2019 and in continuation thereof, this department's letter No.-FEPD(LDA)/147(1)/2019-7600 dated 07/10/2019 and FEPD Circular Letter No.-29 dated 20/11/2019 shall remain in force as usual.
-
These instructions shall be implemented immediately and all concerned parties are requested to be informed about the matter.
Yours faithfully,
(Mohammad Khurshid Wahab)
General Manager
Phone: 9530123
Subject: Regarding the provision of cash assistance against remittance sent through legal channels.
27 Falgun 1426
11 March 2020
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.
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (2)
- Basis for
“ive/Managing Director All Scheduled Banks operating in Bangladesh. Dear Sirs, Reference is drawn to your attention to FEP Circular Letter No. 08 dated March 11, 2020, and FEP Circular Letter No. 31 dated”
“Mariners/Aircraft Pilots. In accordance with the instructions issued by the Foreign Exchange Policy Department in its FE Circular Letter No. 08 dated 11 March 2020, cash assistance will be available agai”
Mentions (2): 1 document this one mentions and 1 document that mentions it, without changing it
- Refers to
“ed 06/08/2019 and in continuation thereof, this department's letter No.-FEPD(LDA)/147(1)/2019-7600 dated 07/10/2019 and FEPD Circular Letter No.-29 dated 20/11/2019 shall remain in force as usual. 3. These”
- Referred to by
“Chief Executive/Managing Directors All Scheduled Banks operating in Bangladesh. Dear Sirs, Reference is drawn to FEPD Circular Letter No. 08 dated March 11, 2020, regarding the subject cited above. 0”
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