Regulatory Alerts2025-05-20
Added
FEPD Circular No. 19: Remittance on account of correspondence courses
Authorized Dealers in Foreign Exchange in Bangladesh may effect remittances for correspondence or distant certification courses paid by students to foreign professional or educational institutions for professional examinations. Remittances must be made in the name of the foreign institutions, subject to applicable tax deductions, and are limited to one course at a time. Subsequent payments require a current progress report, and all foreign exchange purchases for the course duration must occur through a single AD bank branch. Authorized Dealers must maintain separate files for each student containing the TM Form, invoice, and declaration as specified in Annex-A.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 19 Date: May 20, 2025 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Remittance on account of correspondence courses In order to facilitate development of professional skills, it has been decided that Authorized Dealers (ADs) may effect remittances on account of correspondence courses/distant certification courses to be paid by students to foreign professional/educational institutions for appearing in professional examinations. In this context, ADs shall examine the following documents: (a) TM Form signed by applicants supported by a declaration as per Annex-A; (b) Demand note/invoice/examination fee notice, etc. 02. The remittances are to be effected in the name of the foreign institutions abroad, subject to deduction of applicable taxes. 03. The facility shall be admissible for one correspondence course at a time. 04. For each release of foreign exchange subsequent to the first release, the current progress report needs be taken into consideration. 05. ADs may execute the remittances through card channels in terms of FE Circular Letter No. 18 of May 04, 2025. 06. All purchases of foreign exchange throughout the entire duration of a correspondence course should be from one AD bank branch. ADs shall maintain separate file for each student with all relevant papers in readiness for perusal by inspection team of Bangladesh Bank. Please bring the contents of this circular to the notice of your relevant constituents.
Yours faithfully, (Md. Harun-Ar-Rashid) Director (FEPD) Phone: 9530123
Annex-A Application for payment of fees for correspondence course
- Name of the applicant:
- Address of the applicant:
- Educational qualifications of the applicant:
- Present occupation of the applicant:
- Description of the course:
- Duration of the course:
- Reasons for selecting the course:
- Total estimated fees for the course:
- Remittance made earlier:
- Progress report of earlier examinations:
- Amount of fees applied for: I do hereby declare that the information stated above is true and I am not pursuing correspondence courses other than …………………… (Name of the course). I have not remitted/shall not remit fees through other AD banks for the course. Signature Name: Date: