FEPD Circular No. 38: Transactions in Non resident Taka Accounts (NRTA)

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No. 38 Date: December 07, 2014 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Transactions in Non resident Taka Accounts (NRTA) Reference is invited to paragraph 7, section II, Chapter 14 of the GFET,Vol-1,2009 enumerating permissible debit and credit transactions in private non-resident taka accounts. The permissible debit transactions listed therein do not include outward remittance in foreign exchange. 02. It has been decided that debits to balances in non-resident taka accounts will henceforth be permissible also for outward remittances towards: (i) subsistence expenses of individual account holders and their family member in their country of residence, (ii) current payments abroad by institutional account holders for permissible procurement of goods and services from abroad; (iii) all cases at (i) and (ii) above will remain subject to approval/reporting requirements in form A-7 described in paragraph 13 ibid. 03. All other instructions of Section II, Chapter 14 of the GFET,Vol-1,2009 in this respect will remain unchanged. Yours faithfully, (Mohammad Zakir Hossain Chowdhury) Deputy General Manager Phone: 9530250