The Bangladesh Bank allowed authorised dealer banks to remit outward payment through international cards issuing in their name.
Traditionally AD banks execute transactions through swift message andexchange houses facilitate wage remittances as per the prevailing arrangements.
Under the new system, AD banks will be able to effect outward remittance via internet issuing international remittance cards in their names.
The central bank issued a notice on May 31 saying that AD banks to effect remittances on account of IT-related expenses, membership fees, fees for application, registration, admission, examination, etc.
The notice said that the AD banks were also allowed to carry out payments for study abroad, visa processing fee, immigration visa processing fees, evaluation fees, right of landing fee, registration/participation fee for attending training, seminar or workshop abroad, publication related fees of articles in international journals, travel expenses on health ground, and payments for tour operations from their foreign currency accounts on behalf of their customers through the channel.
An official of the Bangladesh Bank said that they were continuously updating regulations to facilitate businesses. The new system will facilitate smooth remittance transactions through international cards as per requirements of foreign beneficiaries, he said.
