Bank will be able to send remittances by issuing cards in its own name

From now on, authorized dealer banks will be able to issue international remittance cards in their own name. With this card, these banks will be able to easily send the money of IT sector, membership fee, admission fee, education-medical cost, visa fee, training fee abroad through internet.

The central bank’s foreign exchange policy department on Monday (May 31) issued a circular to facilitate remittances through international cards.

In this regard, the concerned official of the central bank said that in the existing system, the approved dealer bank makes foreign transactions through Swift massage and the expatriate income comes to the country through the exchange house. This initiative has been taken to make it easier to send remittances through international cards. Depending on the foreign beneficiary demand, the authorized dealer bank will be able to settle the transactions through the card on behalf of their customer. Remittances can be sent easily and cheaply through this card.

Sunbd/NJ