Release of foreign exchange for travel abroad

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Web site: www.bb.org.bd FE Circular No. 09 Date: August 27, 2012 All Authorized Dealers of   Foreign Exchange in Bangladesh Dear Sirs, Release offoreign exchange fortravel abroad Attention of the Authorized Dealers (ADs) is invited to FE Circular No. 24, dated December 02, 2009 regarding annual travel entitlement of Bangladeshi nationals for private travel abroad. 02. It has been decided to enhance annual entitlement for travel to SAARC member countries and Myanmar to US$ 2,000 from US$ 1,500 per calendar year.   03. The revised travel entitlement will be effective from the current calendar year. 04. In terms of paragraph 1(ii), chapter 12 of Guidelines for Foreign Exchange Transactions‐ 2009, Vol‐1, ADs are allowed to release foreign exchange in the form of cash up to US$ 2000 at any one instance out of travel entitlement to Bangladeshi national proceeding abroad. However, confusion arises as to whether ADs can release balance of the entitlement in the form of cash in other currencies. This is to clarify that ADs may release USD 2,000 in cash and the remainder in other freely convertible currencies out of the prescribed entitlement i.e., US$ 5,000 for travel to countries other than SAARC member countries and Myanmar. 05. All other terms and conditions stipulated in FE Circular No. 24, dated December 02, 2009 shall remain unchanged. Please bring the contents of this circular to the notice of all concerned.         Yours faithfully,                                             (Md. Golam Haider) Deputy General Manager Phone: 9530092