COVID-19: BB relaxes forex release rules for travelling card holders

The central bank has relaxed its rules of foreign exchange release considering the situation of the travelling card holders stuck abroad due to restrictions arising out of the COVID-19 pandemic.

Under the relaxed rules, the banks can release foreign exchange within the permissible limit of travel and/or medical entitlement in their international cards, Bangladesh Bank (BB) said in a notification issued on Sunday night.

Alternatively, the authorised dealer (AD) banks can remit funds to the designated accounts abroad by way of bank transfer or make it available to them through exchange houses on credit in the concerned Taka Accounts maintained under drawing arrangements, the notice read.

“We’ve relaxed our regulations to provide foreign currency to the Bangladesh nationals who are visiting abroad and facing problems while returning home due to travel disruptions arising out of COVID-19 pandemic,” a senior official of the Bangladesh Bank (BB) told the FE while explaining the main objective of the notification.

The relaxation will be applicable till April 30, 2020.