RELEASE OF FOREIGN EXCHANGE ON ACCOUNT OF SOFTWARE MAINTENANCE/SUPPORT FEES. REF: FEPD CIRCULAR NO. 19 DATED 04.05.2014.

Prior approval from Bangladesh Bank is required to remit foreign exchange on account of maintenance/support fees for proprietary/specialized software to service providers abroad under agreements.

  1. It has now been decided that an Authorized Dealer (AD) bank may continue to effect remittance of periodical maintenance/support fee for software during the tenure of the agreement for which maiden approval was accorded from Bangladesh Bank. In this context, the AD banks shall satisfy themselves with the bonafides of the subsequent requests through invoices and validity of the relevant agreement and comply with the instructions contained in first time approval letter of Bangladesh Bank.

Please bring the contents of this circular to the notice of all concerned.

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