Economic Reporter :
Authorised Dealers of Banks are now allowed to transfer a maximum annual remittance of $10,000 to facilitate e-commerce trade in the country.
A member of e-Commerce Association of Bangladesh (e-CAB) will be able to transact its expenses up to this limit abroad through traditional banking channel or card channel.
The Bangladesh Bank on Sunday issued a circular signed by Md Shahidul Islam, general manager (current charge) of Foreign Exchange Policy Department, in this regard.
ADs may issue refillable international credit or pre-paid card with $2,000 to the nominated official of the remitter within the limit.
However, total refills in cards and remittances by banking channel cannot exceed the limit of $10,000 in a calendar year, the circular said.
The transactions are subject to compliance with applicable instructions, including recommendation of Bangladesh Association of Software and Information Services as per the guidelines for Foreign Exchange Transactions-2018, it added.
Transactions under the authorisation will be executed by a single AD bank branch nominated by remitters, according to the circular.
For any intended change of AD branch, the relevant files will be transferred directly to the concerned new AD branch on written request by eligible firms.
ADs will, as usual, comply with relevant instructions, including deduction and payments of applicable taxes at sources, value added taxes and other levies, recommendation by e-CAB.
