Medical remittance cap raises to $15,000

Staff Reporter :

Bangladesh Bank (BB) has increased the ceiling for remittances related to medical treatment abroad, allowing authorised banks to remit up to USD 15,000 per patient without prior approval-up from the previous limit of USD 10,000.

According to a circular issued on Monday, while banks may now process an additional USD 5,000 for medical purposes, they are still required to obtain post-facto authorisation on behalf of the remitter.

This adjustment comes amid a growing trend of Bangladeshi patients opting for treatment in higher-cost countries such as Thailand, Singapore, the United Kingdom, and the United States, as access to Indian medical facilities becomes more difficult under the interim government.

The circular clarified that remitted funds may be paid directly to foreign hospitals or disbursed via international payment cards. Additionally, patients are permitted to withdraw up to USD 5,000 in cash to cover immediate medical and travel-related expenses.

Officials at the central bank stated that the revision aims to encourage the use of formal banking channels for medical remittances, reducing reliance on informal systems such as hundi, which continue to erode official foreign exchange inflows.

This policy shift follows a series of recent reforms designed to liberalise foreign currency transactions in sectors including education and IT services.
Banks have been granted greater flexibility in using international cards to pay for tuition, visa processing fees, training programmes, and now, medical expenses.

By facilitating smoother international payments, the central bank hopes to strengthen transparency, improve record-keeping, and ensure regulatory oversight of outbound foreign currency transactions.