Local Hajj agencies need not to take approval from Bangladesh Bank to send collateral money to Saudi agents for those going to Saudi Arabia to perform Umrah.
Bangladesh Bank’s Foreign Exchange Policy Department informed various banks of its new policy on Monday.
The Saudi embassy usually gives visa through a Hajj agency, and local agents deal with their associates in Saudi Arabia.
The Saudi agents take 100,000 Saudi Riyal from Bangladeshi agents as collateral money to ensure people return home after performing Umrah.
Earlier, the local agents needed the Bangladesh Bank’s approval to send the money.
