Regulatory Alerts2014-06-02
Added · Updated
FEPD Circular No. 23: Remittances on account of IT related fees
ICC issuing banks are authorized to issue Virtual Cards to individual developers and freelancers of mobile apps and games who hold specific participation certificates from government authorities, BASIS, or recognized institutes. These cards may be used for online payments of registration fees for application marketplaces, software license fees, online training fees, and domain or hosting costs. The total foreign exchange release for these purposes is capped at USD 300 or its equivalent per calendar year. Transactions must be reported to Bangladesh Bank in accordance with existing guidelines.
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