Bangladesh Bank raises foreign currency limit for overseas medical treatment by $5,000

The increase comes due to higher medical costs in foreign countries

In response to rising demand for medical treatment abroad and increasing associated costs, Bangladesh Bank has raised the foreign exchange limit for such purposes by an additional $5,000.

A notification issued on Monday by the central bank’s Foreign Exchange Policy Department announced that individuals may now take up to $15,000 per trip for overseas medical treatment.

The order has been sent to the managing directors and chief executives of all banks.

Previously, the maximum amount permitted was $10,000.

Following the new limit, travellers may carry up to $5,000 in cash, while the remaining amount may be used via credit, debit, or prepaid cards, as per Bangladesh Bank's updated policy.

A senior official of the central bank told bdnews24.com, “We regularly receive applications from individuals seeking medical treatment abroad. Apart from India, demand has increased for countries like Thailand. Medical costs in those countries have also risen, prompting us to adjust the limit accordingly.”

He added that anyone planning to receive medical treatment abroad must present valid documentation from a foreign hospital or consulting physician.

Should the required amount exceed $15,000, the bank must seek prior approval from the central bank on the customer's behalf.

The rules for tourism remain unchanged.

Under existing regulations, any Bangladeshi national may carry up to $10,000 abroad without prior declaration.

Similarly, individuals may bring up to $10,000 into the country without declaration.

Non-resident Bangladeshis (NRBs) may convert undeclared foreign currency into local currency at any time upon their return or deposit it into a foreign currency account.

However, if the amount exceeds $10,000, it must be declared to customs authorities and converted into taka within 30 days.

There is no limit on the amount of foreign currency that may be brought into Bangladesh, provided it is duly declared through an FMJ form.