Regulatory Alerts2023-10-18
Added
FEPD Circular Letter No. 17: Disbursement of NRB remittances to their beneficiaries
The Foreign Exchange Policy Department of Bangladesh Bank directs all Approved Dealers to ensure that remittances from non-resident Bangladeshis are disbursed to the rightful beneficiaries within two working days, as previously mandated in Circular Letter No. 15 dated July 16, 2014. This directive addresses recent observations that the two-day disbursement timeline is not being strictly adhered to. Approved Dealers are instructed to immediately implement these guidelines and notify all relevant parties of this requirement.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka.
Ref No. FEPD Circular Letter No. 17 Date: --------------------- To: All Approved Dealers engaged in Foreign Exchange Transactions Head Office/Principal Office.
Dear Sir,
Subject: Disbursement of Remittances from Non-Resident Bangladeshis to their Beneficiaries.
Reference is invited to this Department's FEPD Circular Letter No. 15 dated 16/07/2014 issued regarding "Disbursement of Remittances from Non-Resident Bangladeshis to their Beneficiaries."
It has recently been observed that the instructions contained in FEPD Circular Letter No. 15, dated 16/07/2014, regarding the disbursement of remittances from Non-Resident Bangladeshis to their beneficiaries are not being complied with correctly. In accordance with the instructions contained in FEPD Circular Letter No. 15, dated 16/07/2014, you are hereby directed to ensure that remittances from Non-Resident Bangladeshis are disbursed to the beneficiaries correctly within the stipulated time limit of two working days.
You are requested to inform all concerned parties immediately to ensure prompt compliance with the above instructions.
Yours faithfully,
(Md. Sarowar Hossain) Director (FEPD) Phone: 9530123
Ref No. 02, 1430 October 18, 2023