Regulatory Alerts2024-10-17
Added
FEPD Circular No. 23: Maintenance of bank accounts abroad and deposits therein
Authorized Dealers in Bangladesh may allow applicants for professional or skilled employment abroad to maintain bank accounts in their destination countries and remit funds prior to obtaining visas. Authorized Dealers must obtain documentary evidence of the requirement, ensure remittances do not exceed limits set by respective authorities, and verify that accounts remain non-operative until the applicant proceeds abroad. In the event of visa non-issuance, Authorized Dealers must ensure fund repatriation and obtain an undertaking from the applicant, while confirming that these facilities are not available for immigration under investment categories.
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