The non-resident Bangladeshis (NRBs) who have more than $10,000 in their possession will have to sell those to banks or money changers by September 30.
If they do not comply with the order, strict legal action will be taken against them, the Bangladesh Bank said in a press release issued on Wednesday.
A non-resident Bangladeshi can keep a maximum of $10,000 or the equivalent amount of other foreign currencies with him while staying in the country. He can take the amount back abroad while leaving Bangladesh, the press release said.
A central bank official said the country is now facing dollar shortages, which prompted the banking regulator to take such as initiative.
