FEPD Circular No. 08: Repatriation of export proceeds through Online Payment Gateway Service Providers

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Web site: www.bb.org.bd FE Circular No. 08 Date: August 07, 2012 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Repatriation of export proceeds through Online Payment Gateway Service Providers Please refer to FE Circular No. 15, dated August 07, 2011 in terms of which Authorized Dealers (ADs) have been allowed to offer the facility of repatriation of service export related payment by entering into standing arrangements with Online Payment Gateway Service Providers (OPGSPs). In order to facilitate inward remittance against service export, it has been decided to raise the maximum limit per transaction from USD 500 to USD 2,000 for service export related payments received through OPGSPs. 02. It has also been decided that declaration on Form C for inward remittance repatriated through OPGSPs will no longer be required. However, ADs shall report the transactions to Bangladesh Bank in monthly returns mentioning appropriate code in the relevant schedule. 03. All other terms and conditions stipulated in FE Circular No. 15, dated August 07, 2011 shall remain unchanged. Please bring the content of this circular to the notice of all concerned. Yours faithfully, (Md. Golam Haider) Deputy General Manager Phone: 9530092