FEPD Circular No. 17: Enhancement of the scope of remittance for academic/research related subscription

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 17 Date: October 02, 2024 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Enhancement of the scope of remittance for academic/research related subscription Please refer to paragraph 15, chapter 11 of the Guidelines of Foreign Exchange Transactions-2018, Vol-1 in terms of which Authorized Dealers (ADs) may allow remittance of subscription fee for academic/research journals to be procured from abroad by public universities and medical colleges, recognized national research/training institutions, University Grants Commission (UGC) approved private universities and Govt. approved private medical colleges upto 3,000 US dollar or equivalent for an institution per calendar year. 02. It has now been decided to include subscription fees of academic software and cloud based educational services as admissible remittances with enhancement of the limit to 15,000 US dollar or equivalent for an institution in a calendar year. 03. In all cases of effecting remittances, ADs shall obtain invoices and other relevant documents upon confirmation of authenticity, and need to be ensured of the compliance of taxes regulations meticulously. 04. As usual, AD shall follow routine report to Bangladesh Bank and comply with AML/CFT standards. Please bring the contents of this circular to the notice of your concerned constituents. Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123