Regulatory Alerts2017-04-02
Added · Updated
FEPD Circular No. 14: Remittances on account of IT related fees
This circular clarifies that virtual cards issued to individual developers and freelancers under FE Circular No. 23 may be debit, credit, or prepaid cards. The authorization allows card-issuing banks to provide these virtual cards with a limit of USD 300 per calendar year to cover bonafide expenses. Authorized Dealers in foreign exchange in Bangladesh are required to bring this clarification to the notice of their concerned constituents.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 14 Date: April 02, 2017 All Authorized Dealers in foreign exchange in Bangladesh Dear Sirs, Remittances on account of IT related fees Please refer to FE Circular No. 23, dated June 02, 2014 in terms of which card issuing banks are allowed to issue virtual cards for USD 300 in a calendar year to individual developers/freelancers to meet their bonafide expenses. 02. This is to clarify that virtual card may be debit card, credit card or prepaid card. Please bring the above clarification to the notice of all your concerned constituents. Yours faithfully, (Md. Abdul Mannan) Deputy General Manager Phone: 9530319
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