Regulatory Alerts2015-08-02
Added · Updated
FEPD Circular Letter No. 14: Regarding Sales of Releasable Cash Foreign Currency by Money Changers to be Carried with Hajj Pilgrims
The Department of Foreign Exchange Policy amends previous guidelines to allow money changers to release a maximum of USD 1,000 or equivalent in cash per person to both government and private Hajj pilgrims for the 1436 Hijri year. This release is conditional upon the presentation of an endorsed international passport and ticket issued no more than two weeks before the travel date. Money changers must verify that the signature on the application matches the pilgrim's passport and must submit photocopies of these applications with their monthly transaction reports to Bangladesh Bank.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka Ref. No. FEPD(CD)144/2015/14 Date: 18 Srabon, 1422 Circular Letter No. - FEPD(CD)144/2015/14 Date: ------------------ 2 August, 2015
To All Approved Dealer Banks and Licensed Money Changers in Foreign Exchange Transactions.
Dear Sirs,
Regarding the release of foreign currency for cash carrying by Hajj pilgrims by money changer institutions.
It is informed that the guidelines contained in Circular Letter No. - FEPD(CD)144/1439/2009 dated 11 October, 2009, regarding the release of foreign currency for cash carrying by Hajj pilgrims by money changer institutions, are amended as follows:
Money changing institutions may release a maximum of USD 1,000.00 (One Thousand) or equivalent foreign currency in cash per person to government and private pilgrims, in accordance with the Hajj Policy Manual prepared by the Ministry of Religious Affairs for the year 1436 Hijri.
The following instructions are to be followed for the release of foreign currency to government and private pilgrims:
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This foreign currency will be issued with the endorsement of the International Passport and Ticket. No foreign currency will be issued more than 2 (two) weeks prior to the travel date mentioned on the ticket;
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The money changing institution must ensure that the specified amount of foreign currency is handed over only to the respective Hajj pilgrim, based on the application form bearing a signature/initials corresponding to the pilgrim's International Passport. Photocopies of these application forms must be sent to Bangladesh Bank along with the money changer's monthly transaction report.
The above instructions shall be followed by all licensed money changers.
(Jagannath Chandra Ghosh) Deputy General Manager Phone: 9530092-21176
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