FEPD Circular No. 19: Release of foreign exchange to private sector participants for attending

Foreign Exchange Policy Department Bangladesh Bank Head Office, Dhaka. Website: www.bb.org.bd F.E. Circular No. 19 Date: July 13, 2016 All Authorised Dealers of Foreign Exchange in Bangladesh. Dear Sirs, Release of foreign exchange to private sector participants for attending seminars, conference, workshops etc. abroad. Attention of the Authorised Dealers (ADs) is invited to the instructions mentioned in Para 4, Chapter 12, Guidelines for Foreign Exchange Transactions (GFET), 2009 (Vol.-1) regarding the above mentioned issue. 02. It has been decided to enhance the limit of releasable foreign exchange for attending seminars, conferences, workshops and training, etc. abroad on per diem basis. Hence Para 4, Chapter 12, Guidelines for Foreign Exchange Transactions (GFET), 2009 (Vol-1) will be replaced as follows: "Authorisd Dealers may release foreign exchange to private sector participants for attending seminars, conferences, workshops, training, etc. abroad at the scale of upto (i) USD 350 per diem for SAARC member countries or Myanmar and (ii) USD 400 per diem for other countries. Foreign exchange may be released only for the actual period of the program to be held on the basis of invitation letters received in the names of the applicants or their employer institutions. Photocopy of the invitation letter and all other related documents should be kept in record by the ADs for post facto scrutiny by the inspection officials of Bangladesh Bank. Release of foreign exchange beyond the above mentioned indicative limits will be allowed by Bangladesh Bank upon submission of requests supported by documented proof of the expenses. Application for such release should be sent to Foreign Exchange Operation Department, Bangladesh Bank". 03. All other instructions stipulated in GFET, 2009 (Vol-1) and subsequent FE circulars regarding this issue shall remain unchanged. This instruction is being issued in pursuant to authority given in section 20(3) of Foreign Exchange Regulation Act, 1947 which will come into force immediately. Please inform the instructions of this circular to all concerned. Yours faithfully, (Jagannath Chandra Ghosh ) Deputy General Manager Phone: 9530092 E-mail : fepd.femp1@bb.org.bd