Earlier, in order to send remittances of more than Rs 5,000 to Rs 5 lakh, the remitter was required to submit detailed documents to a foreign exchange house. From now on, that obligation has been revoked. As a result, expatriate Bangladeshis working in different countries of the world can easily send remittances to the country.
On Monday (May 23), the Foreign Exchange and Policy Department of the Central Bank issued a notification in this regard.
The circular sent to the chief executive of all scheduled banks states that in case of remittance of Rs. From now on, remittance incentive / cash assistance will be applicable at the existing rate (2.50%) without any paperwork of remittance for providing remittance incentive / cash assistance as against remittance sending legally in the country as per government decision.
The notification said that the above decision will remain in force till further instructions.