Transfer of remunerations to Foreign Currency (FC) accounts in the names of foreign
nationals employed in branch offices/liaison offices of foreign companies in Bangladesh
Paragraph 8, chapter 11 of the Guidelines for Foreign Exchange Transactions-2018, Vol-1 (GFET) permits foreign nationals working in Bangladesh with valid work permits to make monthly remittances up to 75% of their net income to cover their commitments abroad.
02. To facilitate payment of remuneration, it has been decided that net income of foreign nationals employed in branch offices/liaison offices of foreign companies duly approved by BIDA may be credited to their FC accounts maintained and operated in terms of paragraph 1, chapter 13 of GFET. In this context, ADs shall observe the following instructions:
(a) Admissible remuneration to FC accounts of foreign nationals shall be credited only from FC accounts of eligible employers, fed in with inward remittances from their parent offices abroad.
(b) Outward payment on account of family remittance from local credits shall be eligible up to 75% of net income in acordance with paragraph 8, chapter 11 of GFET.
(c) Balances from the FC accounts are freely encashable to Taka for local expenses.
(d) Purchase of air ticket as per paragraph 11(vi), chapter 12 of GFET shall be permissible out of the limit of eligible family remittance.
Please bring the above instructions to the notice of concerned constituents.
Bangladesh Automated Cheque Processing System (BACPS) Operating Rules and Procedures.
Please refer to PSD Circular No. 01, dated January 17, 2010 on the captioned subject.
Bangladesh Automated Cheque Processing System (BACPS) Operating Rules and Procedures issued vide PSD Circular No. 01/2010 has been reviewed further with a view to facilitating the banks in clearing and settlement operations under the upgraded BACPS system.
All scheduled banks that participate in the Bangladesh Automated Clearing House (BACH) are hereby advised to follow the attached BACPS Operating Rules and Procedures V 2.0 for their clearing and settlement operation with immediate effect.
Please acknowledge receipt.