The Bangladesh Bank has slightly relaxed its policy on foreign travel for bank officials, now allowing them to travel abroad for business meetings with foreign banks and attend crucial official meetings. However, officials must still obtain permission from their bank’s appropriate authorities. In 2022, the central bank restricted foreign travel for bank officials to reduce dollar spending, permitting only travel for medical treatment, Hajj, or fully foreign-funded events. The new circular maintains the requirement for managing directors and CEOs to get Bangladesh Bank approval for such travel. In May 2022, a complete ban on “personal” foreign travel for bankers was implemented, which was slightly relaxed the next day to allow travel at personal expense for special needs. This policy adjustment aims to reduce pressure on reserves and address the dollar crisis by discouraging the import of luxury goods.
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