Home » Bangladesh Publication » Circular No. 01 dated 7 February 2023 issued by the Foreign Exchange Operation Department of the Bangladesh Bank on “Funds Endorsed against a Traveler’s Passport”
Circular No. 01 dated 7 February 2023 issued by the Foreign Exchange Operation Department of the Bangladesh Bank on “Funds Endorsed against a Traveler’s Passport”
March 4, 2023The Bangladesh Bank has instructed authorized dealer banks and money changers to verify the amount of foreign currency a customer has spent against their passport before endorsing fresh foreign currency.
As per the circular, before releasing foreign currency under a traveler’s passport, banks and money changers must verify the number of dollars spent by the concerned traveler in the central bank’s Online TM Form Monitoring System, International Card Monitoring System, or Online Money Changer Monitoring System.
Currently, a traveler can spend up to US$12,000 a year endorsed against their passport. Children under 12 are allowed to endorse up to US$6,000.
KEYWORDS
RELATED EXPERIENCES
Related Articles
- Stimulating Foreign Currency Reserves: Tax Breaks for Offshore Banking in Bangladesh
- May 2, 2024 - Regulatory Directive Impacts Industrial Establishment Access to Utilities and Financial Support
- May 2, 2024 - Bangladesh Bank Announces Interest Rate Adjustments for SREUP Pre-Finance Facilities
- May 2, 2024 - Revolutionizing Trade: Bangladesh Introduces Counter-Trade for Foreign Exchange Independence
- April 3, 2024 - Boosting Foreign Investment: Bangladesh’s Offshore Banking Act 2024 Unveiled
- April 3, 2024