Release of foreign exchange for online study abroad

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 30 Date: August 23, 2020 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Release of foreign exchange for online study abroad Please refer to paragraph 10, chapter 11 of the Guidelines for Foreign Exchange Transactions￾2018 (GFET), Vol-1 and its subsequent circulars in terms of which Authorized Dealers (ADs) have been allowed, with exception for study at school level, to release foreign exchange for admission and study by Bangladeshi nationals in regular courses such as undergraduate, post graduate, language course pre-requisite to bachelor degree & professional diploma/certificate courses in recognized institutions abroad. 02. Given the ongoing situation due to COVID-19 pandemic, it is observed that foreign educational institutions are admitting students and imparting online lessons. To facilitate the situation, it has been decided that ADs may effect outward remittances on account of study abroad under online teaching arrangements subject to getting supporting documents in respect of such online courses and observance of the required instructions as per above mentioned regulations. ADs shall, before effecting remittances, be satisfied to the effect that the online education shall continue maximum for two semesters/sessions. Please bring the contents of this circular letter, effective till March 31, 2021, to the notice of your concerned clientele. Yours faithfully,

(Mohammad Khurshid Wahab) General Manager Phone: 9530123