Regulatory Alerts2020-06-23
Added · Updated
Transfer of remunerations to Foreign Currency accounts for foreign nationals in Bangladesh
Up to 75 percent of the net monthly income in equivalent foreign currency may be credited from employers' FC accounts to the FC accounts of expatriate employees employed in branch offices, liaison offices, or EPZ/EZ/HTP companies. Authorized Dealers must treat these credits as outward remittances following Chapter 11 of GFET and may allow debit or prepaid cards for permissible transactions including travel expenses. Encashment of balances is treated as inward remittances for bona fide local disbursements, such as purchasing air tickets locally. FE Circular Nos. 47/2019 and 10/2020 are repealed in accordance with these revised instructions.
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