FEPD Circular Letter No. 45: Regarding Disbursement of Cash Incentive against Inward Remittances Earned by Armed Forces Members from UN Mission

Chief Executive/Managing Director
All Scheduled Banks operating in Bangladesh.

Dear Sirs,

Reference is drawn to your attention to FEP Circular Letter No. 08 dated March 11, 2020, and FEP Circular Letter No. 31 dated September 10, 2020.

2. In accordance with the instructions contained in the aforementioned circular letters, the following procedures are hereby instructed for the provision of incentives/cash assistance against the remittances sent to the country through various channels by members of the Army/Navy/Air Force/Police forces working in United Nations Peacekeeping Missions in various countries of the world during their stay abroad:

3. In the matter of providing cash assistance/incentive, a 2% cash assistance/incentive will be applicable on the received remittances from July 1, 2019, to December 31, 2021, and a 2.5% cash assistance/incentive will be applicable on the received remittances from January 1, 2022.

4. Other instructions previously issued in this regard will remain in force as usual.

Yours faithfully,

Md. Sarowar Hossain
Director (FEPD)
Phone: 9530123
Foreign Currency Policy Department
Bangladesh Bank
Head Office
Dhaka.

Ref. No. FEPD/FCPD/Policy-1(1)/2022/101
FEP Circular Letter No.-45
Date: December 04, 2022
Subject: Regarding disbursement of cash assistance against inward remittances of members of the Armed Forces from United Nations Peacekeeping Mission.

a) For the purpose of waiving the incentive amount against the remittances received by members of the Army/Navy/Air Force/Police forces working in United Nations Peacekeeping Missions, the concerned organization will apply to their bank along with the list of eligibility of each of their members; b) The concerned bank will apply to the Accounts and Budgeting Department (ABD) of Bangladesh Bank along with the list classified under 'A' serial of the Armed Forces for the waiver of the amount applied by the Army/Navy/Air Force/Police; c) Subject to receiving funds from the government, the ABD will waive the amount to the concerned bank, and d) The concerned bank will deposit the incentive/cash assistance to the respective bank accounts of the members of the Armed Forces according to the list provided by the Armed Forces.