Bangladesh Bank has relaxed its rules doubling business travel quota in foreign exchange by exporters, manufactures and importers.
Under the new provisions, resident Bangladesh nationals and foreign nationals working in business organizations in Bangladesh will be able to spend $10,000 instead of existing $5000 per year for traveling to the foreign countries.
The central bank issued a circular in this connection yesterday and asked all commercial banks to follow the latest instruction on releasing annual travel quota in foreign exchange to resident Bangladesh nationals and senior level expatriate foreign nationals employed in business organisations in Bangladesh with valid visas and work permits.
“Exporters, importers and producers for the local market would be able to spend $400 in a day and spend the highest $4,000 in a single trip and $10,000 annually in a foreign country,” the circular said.
Besides, exporters will also be entitled to use balances in their foreign currency retention quota account for their business visits abroad, it said.
It said genuine requirements beyond the entitlements enumerated above will be accommodated by the BB upon submission of application supported by documents establishing bonafides of the additional requirements.