Shining Bangladesh Thursday | 26 November 2020

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BB instructs banks to ensure unhindered forex repatriation

Staff Correspondent || shiningbd

Published: 00:53, 18 November 2020  
BB instructs banks to ensure unhindered forex repatriation

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The central bank has asked scheduled banks to facilitate the repatriation of funds, without creating any obstacle, out of balances held in the foreign currency accounts, officials said.

“….you are advised to instruct all your authorized dealer (AD) banks to facilitate the repatriation of fund, without creating any obstacle, out of balances held in the respective foreign currency accounts of account holders opened and maintained under the general authorization,” the Bangladesh Bank (BB) said in a circular on Tuesday.

The central bank issued the circular after informing that the existing foreign exchange regulations are not observed by AD banks, resulting in unnecessary harassment faced by accountholders to repatriate funds abroad out of balances held in their respective foreign currency accounts.

 “This is to reiterate that the balances held in the concerned foreign currency accounts are repatriable abroad without approval from the central bank,” it noted.