BSS, Dhaka :
Bank Asia has introduced online payment gateway service, which will help freelancers to receive their payments from overseas without any hassles.
Bangladesh Bank (BB) Governor Dr Atiur Rahman launched the service at a programme at a city hotel on Thursday. Bank Asia Chairman A. Rouf Chowdhury and Payoneer chief executive officer Scott H. Galit attended the programme and spoke on the occasion.
Payoneer, a New York-based online payments platform, is providing technical support to the local bank to offer businesses and professionals to reach new audiences by facilitating seamless and cross-border payments.
“Online Payment Gateway Service Provider (OPGSP) System plays an important role to bring small amount of foreign exchange earned against services provided by the freelancers,” the governor said at the launching.
He said the central bank has already given necessary directions to the authorised dealers (ADs) to take help from the OPGSP to bring foreign exchange at low cost earned against exporting IT services.
“Now the ADs, without BB permission can enter into standing arrangements with internationally recognised OPGSPs to provide repatriation facilities to the freelancers up to $2,000 per transaction,” Dr Rahman said.
In addition, he said, the freelancers are also allowed to retain 50 percent of their receipts in foreign currency accounts. Further, the balances held in such accounts are freely remittable abroad to meet business needs.
BB has also accommodated freelancers’ needs such as online registration and payments of fees for training programmes, the governor added.
“I believe these initiatives of liberalising foreign exchange transactions are contributing towards creating business friendly environment for service exporters, particularly for the freelancers. This will help Bangladesh earn a significant share in global service export market,” he said.
Bank Asia has introduced online payment gateway service, which will help freelancers to receive their payments from overseas without any hassles.
Bangladesh Bank (BB) Governor Dr Atiur Rahman launched the service at a programme at a city hotel on Thursday. Bank Asia Chairman A. Rouf Chowdhury and Payoneer chief executive officer Scott H. Galit attended the programme and spoke on the occasion.
Payoneer, a New York-based online payments platform, is providing technical support to the local bank to offer businesses and professionals to reach new audiences by facilitating seamless and cross-border payments.
“Online Payment Gateway Service Provider (OPGSP) System plays an important role to bring small amount of foreign exchange earned against services provided by the freelancers,” the governor said at the launching.
He said the central bank has already given necessary directions to the authorised dealers (ADs) to take help from the OPGSP to bring foreign exchange at low cost earned against exporting IT services.
“Now the ADs, without BB permission can enter into standing arrangements with internationally recognised OPGSPs to provide repatriation facilities to the freelancers up to $2,000 per transaction,” Dr Rahman said.
In addition, he said, the freelancers are also allowed to retain 50 percent of their receipts in foreign currency accounts. Further, the balances held in such accounts are freely remittable abroad to meet business needs.
BB has also accommodated freelancers’ needs such as online registration and payments of fees for training programmes, the governor added.
“I believe these initiatives of liberalising foreign exchange transactions are contributing towards creating business friendly environment for service exporters, particularly for the freelancers. This will help Bangladesh earn a significant share in global service export market,” he said.
