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Bangladeshis can keep up to $5,000 without declaration

  • Published at 09:55 pm November 13th, 2017
Bangladeshis can keep up to $5,000 without declaration
The central bank is now allowing Bangladeshi citizens to keep and carry foreign currency of up to $5,000 or equivalent. Bangladesh Bank issued a circular to this effect on Monday, saying necessary amendments had been made to the Foreign Money and Jewellery (FMJ) Form. All banks that deal in foreign currency received the circular. The amended FMJ Form says Bangladeshi citizens can keep up to $5,000 or equivalent amount of other foreign currency without any form of declaration and can carry such money during foreign travel. Resident Bangladeshis will have to exchange into taka any amount above this limit within 30 days of returning to the country, or save it in the requisite foreign currency. For non-resident Bangladeshis, there is no such requirement. The FMJ Form also says travellers, whether Bangladeshis or foreigners, can bring in or leave the country with any amount of foreign currency, and will have to declare it to the Customs authorities if it is above $5,000 in value. On October 16, Bangladesh Bank allowed travellers to take up to Tk10,000 in Bangladeshi currency while leaving the country, and the same amount for travellers coming in. According to central bank directives, an individual can get a maximum of $12,000 endorsed from banks per year. This story was first published on Bangla Tribune