Regulatory Alerts2022-09-07
Added
FEPD Circular Letter No. 2022-4706: Encashment/Deposit of Foreign Currency held by resident Bangladeshi
Resident Bangladeshi individuals may retain up to USD 10,000 or equivalent foreign currency in their possession or as a Resident Foreign Currency Deposit with an authorized dealer bank for future travel. Amounts exceeding this threshold must be sold to or deposited in a Resident Foreign Currency Deposit account with an authorized dealer bank or licensed money changer within one month of arrival in Bangladesh. Possession of foreign currency beyond these limits is a punishable offense under the Foreign Exchange Regulation Act, 1947, and holders of unauthorized amounts are requested to sell them by September 30, 2022, or face strict legal action.
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