Regulatory Alerts2022-05-16
Added
FEPD Circular Letter No. 13: Retention of inward remittances in foreign currency
Authorized Dealers in Bangladesh must inform individual beneficiaries of their option to retain inward remittances from ICT, business, and professional services in foreign currency before encashment, and must not encash these funds into Taka accounts without explicit consent. The retainable amount is limited to the prescribed caps under paragraphs 27(c) and 27(d) of Chapter 13 of the Guidelines for Foreign Exchange Transactions-2018, Vol-1. Authorized Dealers are also required to guide customers on using retained amounts for outward remittances for bona fide current account transactions as per Chapter 8 and Chapter 13 of the same guidelines.
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