Banks to remit O-Level/A-Level exam expenses abroad directly

The central bank has relaxed foreign exchange regulations, allowing banks to remit O-Level/A-Level exam-related expenses abroad without prior approval from the Bangladesh Bank (BB).

The authorised dealer (AD) banks have also been asked to allow authorised examination centres to collect admission and examination-related expenses in Bangladeshi Taka (BDT) for outward remittances.

The examinations include the Test of English as a Foreign Language (TOEFL), Scholastic Assessment Test (SAT), etc., and secondary and higher secondary equivalent studies under recognised foreign academic bodies/authorities for outward remittances.

In this case, examination centres/customers need to be duly authorised by relevant bodies/authorities abroad.

“It has been decided that ADs may release foreign exchange on account of admission/registration and examination-related fees for studies in secondary and higher secondary equivalent levels under recognised foreign academic bodies, examinations of which are to be held in authorised examination centres in Bangladesh,” the central bank said in a notification on Monday.

Earlier, banks could allow such remittances with the approval of the central bank, according to the central bank officials.

From now on, banks can remit on behalf of exam centres for conducting examinations in Bangladesh of secondary and higher secondary equivalent studies such as O-Level and A-Level, they explained.

In addition, fees for examination of TOEFL, SAT, etc. can be remittable without the central bank approval, they added.

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