Opportunity to avail services abroad without dual-currency card

Bangladesh Bank headquarters
Prothom Alo

Banks will now be able to send money abroad on behalf of the clients through international remittance cards to cover the cost of medical, education and visa fees abroad.

Bangladesh Bank has made the process of sending money easier in this regard. The central bank has taken this decision mainly as part of the liberalisation of foreign transactions.

Under the current system, the authorised dealer bank conducts foreign transactions through Swift message. On the other hand, expatriates send remittance to the country through exchange houses.

From now on, authorised dealer banks will be able to issue international remittance cards in their own name. With this card, the concerned bank will be able to easily send the money spent by the customers in several sectors abroad through internet.

The sectors are IT sector expenditure, membership fee, admission fee, education-medical cost, visa fee, training fee and so on. The Foreign Exchange Policy Department of Bangladesh Bank has issued a notification in this regard on Monday.

The banks will be able to pay the fee with their own card, even if a Bangladeshi citizen staying abroad does not have dual currency card. Customers can avail the facilities especially for those institutions that do not accept cash payment.