Relaxation for permission of drawing arrangements between Authorized Dealers and exchange houses abroad

Authorized Dealers in Foreign Exchange in Bangladesh may establish drawing arrangements with exchange houses abroad without prior permission from Bangladesh Bank, provided they submit post facto reports containing detailed information about these arrangements. These arrangements can be made without letters of reference or certificates from the respective country's Bangladesh Embassy or High Commission, subject to verification of licenses issued by competent authorities and the completion of extended due diligence. Authorized Dealers must not impose any charges on beneficiaries while disbursing remittances.

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Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 20 Date: 10.08.2022
All Authorized Dealers in
Foreign Exchange in Bangladesh
Dear Sirs,
Relaxation for permission of drawing arrangements between Authorized Dealers and exchange houses abroad Please refer to Circular Letter No. FEPD(LDA-1)147/2007-1468, dated October 29, 2007 and its subsequent circulars regarding drawing arrangements with exchange houses abroad for repatriation of wage remittances. In accordance with policy guidelines, Bangladesh Bank accords permission to ADs against their compliant applications for make drawing arrangements with exchange houses abroad. It has been decided that ADs may make drawing arrangements with exchange houses abroad without prior permission from Bangladesh Bank. In this context, ADs shall make post facto reports to Bangladesh Bank with detailed information of the arrangements.
02. It has also been decided that ADs may go for drawing arrangements without letters of
references/certificates from the Bangladesh Embassy/High Commission of the respective country, subject to satisfaction on licenses issued by competent authorities favoring relevant exchange houses, and on conducting extended due diligence.
03. As usual, AD shall not impose charges to beneficiary while disbursing remittances.
Other relevant instructions shall remain unchanged. Please bring the above decision to the notice of your relevant constituents. Yours faithfully, (Md. Sarwar Hossain) Director(FEPD) Phone: 9530123

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Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works