Regulatory Alerts2017-04-02
Added · Updated
FEPD Circular No. 13 : Foreign exchange transactions for IT/Software firms
The remittable limit for Authorized Dealers to remit funds on behalf of IT/Software firms is increased from USD 25,000 to USD 30,000 per calendar year. Within this new limit, the maximum amount issuable via international cards is raised from USD 2,500 to USD 6,000, with provisions for refilling subject to available limits. This facility operates independently of ERQ accounts and allows remittances through wire transfer or international cards. These instructions are effective immediately.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 13 Date: April 02, 2017 All Authorized Dealers in foreign exchange in Bangladesh Dear Sirs, Foreign exchange transactions for IT/Software firms Please refer to paragraph 02 of FE Circular No.15, dated September 02, 2010 read with FE Circular No.05, dated February 24, 2013 and FE Circular No. 23, August 10, 2016 in terms of which Authorized Dealers are allowed to remit abroad up to USD 25,000 on behalf of IT/Software firms to meet their bonafide expenses in a calendar year. 02. It has now been decided to enhance the remittable limit from USD 25,000 to USD 30,000 in a calendar year. Within the limit of USD 30,000, international cards may be issuable for USD 6,000 instead of USD 2,500 which may be refilled subject to availability of the limit. 03. This is to clarify that the above facility is not linked with ERQ account and is remittable through wire transfer and/or international card within the limit. 04. Other instructions in this context shall remain unchanged. Please bring the above instructions, effective immediately, to the notice of all your concerned constituents. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319
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