BB bans bankers from going abroad for workshops and training

Bangladesh Bank on Sunday banned bankers from all kinds of training, seminars and workshops home or abroad at the expense of foreign currency, dollars, in a bid to defuse the forex reserve crisis.

Bangladesh Bank’s foreign exchange policy department issued a circular which directed the banks and the financial corporations not to spend any dollars for this purpose.

Earlier on 18 May, the central bank in a notification said "all orders issued in connection with foreign trips of Bangladesh Bank officials and employees have been cancelled."

As per the current rule, banks can release foreign currency to pay the participation fee of officials of government, autonomous/semi-autonomous organisations, banks, financial institutions, member of banking training institutes, firms, institutes and NGOs in training, seminars and workshops abroad.

Now, the BB has restricted this privilege.

UNB adds: In order to reduce the pressure on foreign exchange reservesm the government on 12 May in a circular barred government officials from traveling abroad unless on urgent purpose.

The circular, issued by the finance ministry, said all foreign travel, including exposure visits, educational trips, APA and innovation-free travel, and participation in workshops or seminars, would remain postponed until the post-corona economy recovers and re-orders in the wake of the current global crisis.