Business Desk :
Expatriate Bangladeshis will enjoy 2.5 per cent cash incentive if they remit five categories of service benefits in the form of remittance through formal channels, said the central bank on Thursday.
The categories are retirement benefits such as pension fund, provident fund, leave salary, bonus and other gratuities, and retirement benefit paid by employers, according to a central bank notice.
No specific clause has been included in the finance ministry’s guideline on the incentive for remittances whether the expatriates would qualify for the facility, a BB official said.
A central banker says some banks have recently wanted to know about the matter. So, the BB had requested the finance ministry to clarify the issue.
Subsequently, the finance ministry included the categories in the list of the beneficiaries. The expatriates earlier did not have to state the source of income under the categories while sending remittances. But the BB has instructed banks to ensure the source of funds before extending the cash incentive.
In addition, the foreign currencies sent by remitters have to be converted into the local currency.
