FEPD Circular No. 23: Release of foreign exchange for study abroad

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 23 Date: May 29 , 2017 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Release of foreign exchange for study abroad Please refer to paragraph 10, chapter 11 of Guidelines for Foreign Exchange Transactions (GFET’2009), Vol-1 in terms of which Authorized Dealers (ADs) are allowed to release foreign exchange for study of Bangladeshi students abroad in favour of the educational institution. 02. It has now been decided that ADs may also release foreign exchange for study of Bangladeshi students in permissible courses abroad in favour of the designated intermediary payment processing entity provided it is clearly mentioned in the admission documents (I-20, Admission Acceptance Letter etc.) of the concerned main educational institution that fees, charges etc. are to be remitted through their designated entity. 03. Other instructions regarding release of foreign exchange for study abroad will remain unchanged. Please bring the contents of this circular to the notice of all concerned. Yours faithfully, ( Md. Abdul Mannan) Deputy General Manager Phone: 9530319