REMITTANCE OF MEMBERSHIP FEES OF FOREIGN PROFESSIONAL AND SCIENTIFIC INSTITUTIONS. REF: FEPD CIRCULAR NO. 03 DATED 20.01.2014.

  1. Please refer to paragraph 9, chapter 11 of Guidelines for Foreign Exchange Transactions (GFET), Vol-1 (2009 Edition) in terms of which Authorized Dealers (ADs) are allowed to make remittance of membership fees of foreign professional and scientific institutions.
  2. It is now clarified that the above facility will also be available to business/professional entities in Bangladesh with international affiliation(s). Consequently, ADs may allow remittance on account of membership/affiliation fees payable by local business/professional entities to the professional/scientific institutions abroad, in line with the instructions contained in above mentioned paragraph of GFET.

The ADs may release FX towards remittance of membership fees of foreign professional & scientific institutions. They are also allowed to remit fees for application, registration, admission, examination (TOEFL, SAT etc.) in connection with admission into foreign educational institutions on the basis of written application/Demand notice/letter from concerned foreign institution showing amount to be remitted. Draft/TT etc to be issued for such remittances should be payable direct to the Institution concerned & the transaction should be reported to the BB supported by Form TM in the usual monthly return (GFET Ch 11).

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