Regulatory Alerts2014-05-04
Added · Updated
FEPD Circular No. 19: Release of foreign exchange on account of software maintenance/support fees
Authorized Dealer banks are permitted to remit periodical maintenance and support fees for proprietary or specialized software to foreign service providers during the tenure of an agreement, provided initial approval was granted by Bangladesh Bank. Banks must verify the bonafides of subsequent requests through invoices and the validity of the relevant agreement, while complying with the instructions contained in the first-time approval letter.
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