Regulatory Alerts2017-02-28
Added · Updated
Re-conversion of unspent taka into foreign exchange by foreign tourists
Licensed Money Changers are authorized to re-convert up to USD 500 in cash of unspent taka belonging to foreign tourists, regardless of whether the original encashment was performed by that specific Money Changer. To execute this re-conversion, the tourist must submit a system-generated encashment certificate issued by any licensed Money Changer. The Money Changer performing the re-conversion is required to stamp the original certificate to confirm execution and preserve a copy thereof.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No. 08 Date: 28 /02/2017
All Licensed Money Changers and Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Re-conversion of unspent taka into foreign exchange by foreign tourists. Please refer to paragraph 9, chapter 12 of the Guidelines for Foreign Exchange Transactions-2009 (GFET), Vol-1 in terms of which licensed Money Changers (MCs) are allowed to re-convert up to USD 500 in cash of the unspent taka fund of foreign tourists on production of encashment certificate provided conversion of foreign currency was done by itself earlier. In order to ease of re-conversion by foreign tourists, any licensed MC whether it encashed earlier or not may reconvert the unspent Bangladesh Taka belong to him within the permissible limit provided that the tourist submits system generated encashment certificate provided by any licensed MC. While reconversion, MC shall stamp on the original encashment certificate to the effect that reconversion has been executed and preserve a copy thereof. Other instructions regarding transactions of MCs shall remain unchanged. Please bring the above instructions to the notice of all concerned. Yours faithfully, (Md.Shahidul Islam) Deputy General Manager Phone: 9530625
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