Bangladeshis can remit $30,000 for overseas treatment without approval

Bangladesh Bank has doubled the amount individuals can send abroad for medical treatment without prior approval, raising the limit from $15,000 to $30,000.

Authorised dealer banks can now remit up to $30,000, or its equivalent in another foreign currency, for overseas medical expenses without clearance from the central bank.

The decision was announced in a circular issued by the central bank’s Foreign Exchange Policy Department on Monday.

The circular said the measures would make foreign currency transactions more flexible and facilitate current-account payments. Existing rules will apply to transfers exceeding $30,000.

The central bank has eased payments for school-level education abroad. Previously, prior approval was required to remit money for secondary and higher-secondary equivalent studies.

Banks can now release the funds themselves but must check whether students have access to tuition-free or fully funded places.

Payments for certification and professional courses, as well as regular academic or institutional courses by correspondence, have been eased.

Authorised dealer banks can release funds for these purposes without prior central bank approval.

The circular revised rules for deposits into Resident Foreign Currency Deposit accounts, in view of expanded opportunities to remit foreign currency for travel, medical treatment, education and other permitted purposes for individuals.