FEPD Circular No. 20: Foreign Currency Account for International Gateway (IGW) Operators

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No. 20 Date: 09/05/2019 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Foreign Currency Account for International Gateway (IGW) Operators. Bangladesh Telecommunication Regulatory Commission (BTRC) issues operator license to International Gateway (IGW) Operators under Bangladesh Telecommunication Regulation Act, 2001 to handle international calls in accordance with the International Long Distance Telecommunications Services (ILDTS) Policy, 2010. In doing so, IGW operators receive/pay in foreign currency against international incoming/outgoing calls. 2. To facilitate the transactions it has now been decided that Authorized Dealers (ADs) may open and maintain Foreign Currency Account in the name of IGW Operators having valid operator licence issued by BTRC under the following terms and conditions: a. Foreign currency received only from International Carrier for international incoming calls may be credited in the account; b. Balances of these accounts may be used to pay to International Carrier for international outgoing calls and to IGW Operator Switch or other IGW Operators for international incoming calls against invoices; c. Balances of these accounts are freely encashable to taka; d. ADs shall ensure deduction of applicable VAT & Taxes and deposit of the same to the Government Treasury. Please bring the above instructions to the notice of all your concerned clientele. Yours faithfully,

(Mohammad Khurshid Wahab) General Manager Phone: 9530123