Relaxation on single transaction through International Card issued against Resident Foreign Currency Deposit Account

Authorized Dealers may allow Resident Foreign Currency Deposit account holders, including two supplementary cardholders, to use International Cards for online payments against the actual purchase of goods and services from reputable sources abroad. Authorized Dealers must ensure the payment of applicable tax or duty obligations for these transactions, while cardholders are required to exercise caution regarding fraud risks from unreliable vendors. All other relevant instructions remain unchanged.

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Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Motijheel
Dhaka-1000 www.bb.org.bd
FE Circular Letter No. 05 Date: 09 May, 2024
Managing Director/CEOs
All Scheduled Banks in Bangladesh
Dear Sirs,
Relaxation on single transaction through International Card issued against Resident Foreign Currency Deposit (RFCD) Account Please refer to Chapter-13, Section-III of the Guidelines for Foreign Exchange Transactions (GFET)-2018, Circular Letter No-19, dated 3rd December 2023 regarding RFCD account and Chapter-19, Para-1(iii) and para-17 of GFET regarding issuance and use of International Card.
02. To facilitate RFCD account holders, it has been decided that, Authorized Dealers
(ADs) may allow their RFCD cardholding (including 2 supplementary card holders) customers to use International Card for online payment at actual against purchase of goods and services from reputed and reliable sources abroad. ADs shall ensure the payment of tax/duty obligation of card holder against above mentioned online payment, if applicable. Card holders should also undertake such transactions with due cautions against risks of being defrauded by unreliable and unauthenticated vendors.
03. All other relevant instructions shall remain unchanged.
You are advised to bring the content of this circular letter to the notice of your eligible customers. Yours faithfully,

Md. Sarwar Hossain
Director (FEPD)
Phone: 9530123

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Lineage: In force

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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