E-Cab members can send 10,000 dollars in abroad without permission

E-Commerce Association of Bangladesh (E-CAB) member organizations can send 10,000 dollars a year abroad for the logical cost of the current account without approval.

The Foreign Exchange Policy Department of Bangladesh Bank has issued a circular in this regard on Sunday (May 2).

The central bank’s circular said, “From now on, international credit and prepaid cards of USD 2,000 can be issued in the name of the designated officer of the institution concerned within the annual quota limit.” However, remittances through cards and under the conventional banking system cannot exceed 10,000. Authorized dealer banks will comply with foreign exchange transaction regulations, tax / VAT deductions and deposits, e-cab recommendations.

Appreciating the circular issued by Bangladesh Bank, the concerned people said that the small foreign expenditure of the e-commerce operators can be sent abroad without the approval of the central bank. As a result, there is no need to face any problem of remittance.

Sunbd/NJ