Non-resident Bangladeshis now can transfer their money overseas

Non-resident Bangladeshis can now legally transfer their money deposited with banks in Bangladesh to foreign countries.

Chief Economics Correspondentbdnews24.com
Published : 7 Dec 2014, 08:09 PM
Updated : 7 Dec 2014, 08:09 PM

The central bank issued a circular on Sunday allowing the fund transfer.

Bangladesh Bank officials said the circular aimed to stop money transfer through illegal channels.

The circular signed by central bank’s Foreign Exchange Policy Department Deputy General Manager Mohammad Zakir Hossain Chowdhury said, if necessary, Bangladeshi expatriates could take their money deposited in ‘taka accounts’ to foreign countries after conversion to US dollar on approval by Bangladesh Bank.

A Bangladesh Bank official told bdnews24.com on condition of anonymity that before the new circular, expatriates could not legally take their money in Bangladeshi banks to the countries they were living.