Regulatory Alerts2020-04-20
Added · Updated
Release of foreign exchange on account of private travel and treatment abroad
Authorized Dealers (ADs) are permitted to continue releasing foreign exchange for Bangladesh nationals abroad facing travel disruptions due to COVID-19, with this facility extended until June 30, 2020, based on actual needs. Additionally, ADs can remit medical expenses for students requiring emergency treatment who have no or limited health insurance coverage. This remittance must be based on estimates supported by a certificate from medical professionals in the student's country of residence, and these facilities are also applicable until June 30, 2020.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular Letter No. 15 Date: April 20, 2020 Head offices/principal offices of all Authorized Dealers in Bangladesh Dear Sirs, Release of foreign exchange on account of private travel and treatment abroad Please refer to FE Circular Letter No. 10, dated March 29, 2020 in terms of which Authorized Dealers (ADs) have been allowed to release foreign exchange on account of travels and treatment abroad to Bangladesh nationals visiting abroad and facing travel disruptions due to COVID-19 pandemic for returning home. 02. To facilitate the transactions on behalf of Bangladesh nationals visiting in foreign countries which are under lockdown due to COVID-19 pandemic, the facilities of aforementioned circular letter shall continue till June 30, 2020 based on the actual needs of the concerned persons. 03. In terms of paragraph 10, chapter 11 of the Guidelines for Foreign Exchange Transactions-2018, Vol-1 and its subsequent circulars, ADs can effect remittance on account of academic fees including boarding and lodging, health insurance, incidental expenses, etc. To facilitate health insurance for students having no coverage or limited coverage, ADs can remit medical expenses to concerned students requiring emergency treatment. In this context, ADs shall release foreign exchange based on the estimates supported by certificate of medical professionals from the country where students reside. The facilities shall be applicable till June 30, 2020. Please bring the contents of this circular letter to the notice of your concerned clientele. Yours faithfully, (Mohammad KhurshidWahab) General Manager Phone: 9530123
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