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Bangladesh Bank (BB) has issued a comprehensive master circular on outward remittances, consolidating all existing regulatory instructions into a single reference document.
The circular, released on September 30, will remain effective for one year from the date of issuance.
It aims to simplify and clarify the regulatory framework for outward remittances, covering a wide range of areas including travel, private transfers, profit and dividend repatriation, institutional remittances, export claims, remittances related to insurance and reinsurance, payments through international cards, and the use of card platforms as payment channels.
However, the guidelines exclude provisions related to import payments and transport service remittances.
According to the central bank, the consolidation is intended to remove procedural ambiguities and improve efficiency in cross-border transactions.
Industry insiders have welcomed the move, saying it will provide greater clarity and ease of compliance for both remitters and authorised dealer banks.
The circular also incorporates updated guidance in line with evolving global payment systems, particularly digital payments via international cards.
Bankers and remitters described the initiative as timely and aligned with the growing need for efficient, technology-driven financial operations.
This follows similar master circulars issued earlier on exports, import payments, and loans and guarantees.
Stakeholders are now urging the regulator to release consolidated guidelines on transport services as well as inward and outward foreign direct investment (FDI), noting that a holistic approach would boost transparency and improve the ease of doing business.
The initiative is part of Bangladesh Bank's broader effort to modernise foreign exchange regulations and foster a trade-friendly ecosystem through structured and up-to-date policy measures.
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