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

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