Regulatory Alerts2015-09-28
Added · Updated
FEPD Circular No. 14: Deposit in foreign currency to blocked accounts abroad for visa/admission processing against study purpose
Authorized Dealers are permitted to release foreign currency for Bangladeshi nationals to open blocked accounts abroad for visa or admission processing for permissible study courses. Authorized Dealers must verify documentary evidence that deposits are refundable if a visa is not obtained and obtain an undertaking from students or guardians for repatriation in such cases. Students must proceed abroad within one year of remittance, and blocked funds must be adjusted against relevant study expenses with proper documentation.
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