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

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka.

Ref. No. FEPD Circular No. 16 Date: September 12, 2024 28 Bhadra, 1431

To, Chief Executive/Managing Directors All Scheduled Banks operating in Bangladesh.

Dear Sirs,

Regarding the provision of government incentive/cash assistance against remittances received as compensation for the death or physical injury of Bangladeshi nationals employed abroad.

This is to inform all concerned that, in accordance with the decision of the competent authority, it has been decided to provide existing remittance incentives/cash assistance against the remittance of funds received through legal channels as compensation for the death or physical injury of expatriates working abroad, received from their employing institutions or insurance companies.

2. The source of income of the remitted funds must be verified based on supporting documents, and it must be mandatorily converted into local currency upon receipt.

3. These instructions shall be effective from the date of issuance of this circular.

4. The amounts of incentives/cash assistance against remittance, and other instructions not superseded by the FEPD Circular No. 31 dated 06/08/2019 issued earlier and the circulars issued in continuation thereof, shall remain unchanged.

5. All concerned parties are advised to inform themselves regarding this matter.

Yours faithfully,

(Md. Sarowar Hossain) Director (FEPD) Phone: 9530123