FEPD Circular Letter No. 08: Regarding Disbursement of Cash Incentive against Inward Remittances sent through legal channel

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.

2. 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.

3. 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