Staff Reporter :
The Foreign Exchange Policy Department (FEPD) of Bangladesh Bank has issued three new directives concerning foreign currency exchanges for private travel entitlements through licensed money changers.
The notification, signed by Monoar Uddin Ahmed, Director of FEPD, was issued on Tuesday, outlining updated regulations aimed at facilitating outbound travellers.
Under the Guidelines for Foreign Exchange Transactions (GFET)-2018, Volume 1, licensed money changers are authorised to sell foreign currency notes, coins, and travellers’ cheques (TCs) to Bangladeshi nationals travelling abroad. This is in accordance with their annual private travel entitlement, subject to a maximum limit of 1,000 US dollars or its equivalent in cash. The limit has now been increased to 2,000 US dollars or its equivalent in cash, effectively doubling the previous allowance.
For Hajj pilgrims, licensed money changers are to follow the government’s Hajj policy regarding the release of foreign currency. The notification also states that all other related instructions will remain unchanged.
This move is expected to simplify financial transactions for outbound travellers and improve compliance with foreign exchange regulations.
