FEPD Circular Letter No. 39: Repatriation of balances held in foreign currency accounts

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 39 Date: November 17, 2020 Head offices/principle offices of All Authorized Dealers in Bangladesh Dear Sir, Repatriation of balances held in foreign currency accounts Please refer to paragraphs 1(iii), 17 and 22, chapter 13 of the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol-1 in terms of which balances held in foreign currency accounts maintained under general authorization by eligible persons are freely repatriable abroad. 02. It has come to the notice of Bangladesh Bank that above instructions are not observed by Authorized Dealer (AD) banks, resulting in unnecessary harassment faced by accountholders to repatriate funds abroad out of balances held in their respective foreign currency accounts. This is to reiterate that the balances held in the concerned foreign currency accounts are repatriable abroad without approval from Bangladesh Bank. In view of the situation stated above, you are advised to instruct all your AD banks to facilitate repatriation of fund, without creating any obstacle, out of balances held in the respective foreign currency accounts of accountholders opened and maintained under general authorization. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123