Regulatory Alerts2024-09-12
Added · Updated
FEPD Circular No. 16: Regarding cash incentive on wage earners' remittance through legal channel against compensation for death or accident of Bangladeshi nationals working abroad
The Foreign Exchange Policy Department of Bangladesh Bank grants a cash incentive on remittances received through legal channels as compensation for the death or physical injury of Bangladeshi nationals working abroad. Eligible funds must be sourced from the employer or insurance company of the deceased or injured worker, verified by proof of income source, and mandatorily converted into local currency upon receipt. This directive is effective from the date of issuance and does not alter the incentive amounts or other instructions previously established under FEPD Circular No. 31 dated August 6, 2019, and its subsequent continuations.
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