Service charge exemption for inward remittances

In a major shift, the banks and foreign exchange dealers have moved to lift service charge on inbound remittance to tackle foreign currency shortage.

To ensure uninterrupted sending of remittance, the overseas exchange houses be kept operating on holidays also.

The development came at a meeting between Association of Bankers, Bangladesh Limited (ABB) and Bangladesh Foreign Exchange Dealers' Association (BAFEDA) at Sonali Bank head office on Sunday.

Earlier, expatriates were needed to count a maximum $2 fee for sending remittance to the country.

ABB and BAFEDA decided to hike encashment rate of export proceeds from Tk99.5 to Tk100 per dollar.