RegAlertRule · BB · 10 Jun 2024
FEPD Circular No. 11: Regarding cash incentive disbursement against monthly deposits under 'Probash Scheme' by wage earners
The Ministry of Finance directs scheduled banks in Bangladesh to disburse government-declared remittance incentives and cash assistance, inclusive of bonuses, for monthly deposits made under the 'Probash Scheme' in foreign currency. Eligibility is restricted to funds sent directly from abroad into the designated Probash Scheme account; remittances sent in local currency from within Bangladesh are ineligible for these incentives.
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka. www.bb.org.bd
Date: 10 June, 2024
27 Jyestha, 1431
FEPD Circular No: 11
Managing Director/Chief Executive Officer
All Scheduled Banks operating in Bangladesh
Dear Sir,
Regarding the provision of incentive/cash assistance against monthly deposits sent in foreign currency under the 'Probash Scheme'.
In this regard, the letter No. 07.01.0000.039.10.19-121 dated 26 May, 2024, sent by the Ministry of Finance, Finance Division, Government of the People's Republic of Bangladesh, is enclosed herewith for your kind information and necessary action.
Enclosure: 01 (one) page
Yours faithfully,
(Signature)
(Md. Sarowar Hossain)
Director (FEPD)
Phone: 9530123
*
Government of the People's Republic of Bangladesh Ministry of Finance, Finance Division Monitoring Cell Bangladesh Secretariat, Dhaka www.mof.gov.bd
No. 07.01.0000.039.10.19-121
Date: 12 Jyestha 1431 Bangabda
26 May 2024 AD
Subject: Provision of incentive/cash assistance against monthly deposits sent in foreign currency under the 'Probash Scheme'. Reference: Bangladesh Bank's Memo No. FEPD(LDA)/147(1)/2024-1440; Date: 10 March, 2024 AD.
In light of the aforementioned letter, it is hereby directed that if the money deposited under the 'Probash Scheme' is paid in foreign currency (i.e., sent), the government-declared rate of remittance incentive/cash assistance (including bonus) may be provided (including bonus) subject to the following conditions:
a) If the beneficiary of the 'Probash Scheme' sends money in foreign currency from abroad directly to the designated account of the 'Probash Scheme', remittance incentive may be provided to the senders (remitters) against the sent money, which shall be paid into the remitter's own bank account; b) If money is sent in domestic currency from within Bangladesh, they will not be eligible for the remittance incentive facility.
- In this regard, it is directed to take necessary subsequent action.
(Signature)
26/5/2024
(Dr. Mohammad Abu Yusuf)
Director General (Additional Secretary)
Phone: 22036359
Mobile: 01711-507024 ma_yusuf@hotmail.com
Governor
Bangladesh Bank
Motijheel, Dhaka
(Copy for information: Director, Foreign Exchange Policy Department)
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (1)
- Issued under
- Memo No. 147 dated 2024-03-10Not in RegAlert
“Reference: Bangladesh Bank's Memo No. FEPD(LDA)/147(1)/2024-1440; Date: 10 March, 2024 AD.”
More like this from BB
We email you every new BB publication the day it's published.
Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated