Regulatory Alerts2020-09-10
Added · Updated
FEPD Circular Letter No. 31: Clarification on Cash Incentive for Remittances Sent Through Legal Channels
The Bangladesh Bank clarifies that the cash incentive for remittances sent through legal channels by eligible workers is effective from July 1, 2019. This directive applies to Bangladeshi nationals working in foreign offices of shipping/airline companies, foreign shipping/airline companies, and foreign missions or international organizations, excluding government-owned entities. The circular instructs scheduled banks to provide a 2% cash incentive on such remittances and to inform all concerned parties of this effective date to eliminate confusion.
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