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Dhaka, June 21, 2025: Bangladesh Bank has introduced new regulations to streamline the process of sending money abroad, enabling businesses in the industrial and service sectors to remit up to 1% of their annual sales or a maximum of $100,000 for foreign transactions. However, banks, insurance companies, microfinance institutions, and other financial entities are excluded from this facility.
The Foreign Exchange Policy Department of Bangladesh Bank issued a notification in this regard on Thursday, June 19, 2025. According to the directive, businesses can now send up to $100,000 under current account transactions for importing goods or availing services abroad, a process that has been made simpler and faster. Previously, this facility was limited to industrial and select service sectors, but the new rules now encompass trading and other sectors.
Economists have welcomed the move, stating that it will facilitate business expansion and accelerate global transactions for Bangladeshi firms.
To ensure compliance, Bangladesh Bank has cautioned that authorized dealer banks must verify whether any prior approval from relevant authorities is required before processing remittances. If needed, such permissions must be obtained. For remittances related to royalties, technical know-how fees, technical assistance, or franchise fees, businesses must adhere to the guidelines of the Bangladesh Investment Development Authority (BIDA).
The notification clarifies that only banks, insurance companies, capital market intermediaries, and microfinance institutions are excluded from this facility. As a result, commercial service sector businesses can now more easily transfer funds abroad for their operational needs.
AI/MR
