BB eases rules to promote small exporters

The central bank has doubled the permissible export limit that can be made without a formal declaration, in a move aimed at supporting small and digital exporters.

The Bangladesh Bank (BB) raised the declaration-free export ceiling to US$1,000 or equivalent, up from the previous $500, to promote cross-border e-commerce and low-value export transactions.

Officials say the changes will make it easier for small traders and online entrepreneurs to receive export proceeds securely through formal channels.

The central bank announced the revised limit through a notification issued on Wednesday.

On the same day, the BB also issued another circular expanding the digital repatriation framework for export proceeds.

Under the new provisions, payments for shipments that do not require an 'EXP Form' declaration can now be repatriated through Mobile Financial Service Providers (MFSPs) and Payment Service Providers (PSPs) licensed by the central bank.

Officials said the initiative will simplify the process of receiving export earnings, particularly for small exporters and online merchants handling low-value consignments.

Nominated banks have been instructed to facilitate such transactions in line with the updated regulatory framework.

Previously, MFSPs and PSPs were only allowed to handle repatriation of income from exports of IT-related services.

With the latest directive, their scope has been broadened to include small-value physical goods exports as well.

Industry insiders have welcomed the move, describing it as a significant step towards modernising export procedures, empowering small and digital exporters, and enhancing the flow of foreign currency through legitimate financial channels.

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