To simplify overseas expenses for education, healthcare, and training, Bangladesh Bank has allowed the use of international card platforms for sending money abroad. A circular issued on Sunday extended the previous system, where banks could only use their own branded international cards, by now permitting authorized banks to utilize broader international card platforms. This step is intended to function as an alternative remittance channel, aiming to make foreign transactions more efficient and cost-effective. Under the new directive, banks can now send remittances for purposes including membership fees, IT-related expenses, tuition fees, visa fees, training registration, and medical costs abroad. Stakeholders believe this expanded use of international cards will encourage legal remittance flows, reduce customer hassle, and strengthen foreign currency reserves. This reform aligns with Bangladesh Bank’s broader efforts—initiated after the fall of the Awami League government in August 2024—to bring order to the dollar market and liberalize foreign exchange transactions step by step.
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