The central bank has doubled the opportunity to bring home the foreign currency earned by the service sector. From now on, entrepreneurs and exporters will have to bring 20 thousand US dollars or equivalent foreign currency into the country without declaration. Earlier this limit was 10 thousand dollars.
On Wednesday (February 22), Bangladesh Bank has issued a circular in this regard from the Foreign Exchange Policy Department.
It has been said that so far 10 thousand dollars could be brought to the country without declaring the foreign currency income of the service sector. Now it can be increased to $20,000 or equivalent in other currencies without declaration of income. However, expatriates working abroad can send as much remittance as they want, no declaration is required.
Earlier, on February 1, Bangladesh Bank issued an instruction to authorized dealer (AD) banks to facilitate the process of bringing foreign currency or dollars earned by serving foreign institutions into the country.
According to the directive, the paper form (known as Form-C) need not be filled to generate the income received in exchange of services. Can be brought by online declaration by electronic means. However, according to the new guidelines, the Central Bank said that from now on, income received in service sector of 20 thousand dollars or equivalent in other currency can be brought without declaration in C-form.
JH
-20240519150548.jpg)
