Revocation of Application Deadlines for Inward Wage Remittance Services by MFSPs and PSPs

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd

FE Circular Letter No. 09 Date: February 10, 2025 All Authorized Dealers in Foreign Exchange and All Licensed Mobile Financial Service Providers and Payment Service Providers in Bangladesh Dear Sirs, Inward wage remittances by licensed Mobile Financial Service Providers (MFSPs) and Payment Service Providers (PSPs) Please refer to FE Circular No. 34 of November 29, 2022 and FE Circular Letter No. 11 of September 19, 2023 in terms of which Mobile Financial Service Providers (MFSPs) and Payment Service Providers (PSPs) are allowed to repatriate wage earners’ remittances in association with internationally recognized online payment gateway service providers (OPGSPs)/banks/digital wallets/card schemes and/or aggregators abroad (hereinafter referred to as approved/licensed foreign payment service providers) respectively. 02. To bring wider flexibility, the deadlines for application by licensed MFSPs and PSPs to offer repatriation services of wage remittances have now been revoked. Licensed MFSPs and PSPs who desire to provide repatriation services can apply to Foreign Exchange Policy Department of Bangladesh Bank, Head Office for permission anytime. 03. All other instructions in FE Circular No. 34 of November 29, 2022 described for MFSPs and FE Circular Letter No. 11 of September 19, 2023 described for PSPs shall remain unchanged. Yours Faithfully,

Monoar Uddin Ahmed Director (FEPD) Phone: +8802-9530119