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Banks can't offer more than Tk 115 in remittances even if they have enough capacity, said Sonali Bank Managing Director and Chairman of Bangladesh Foreign Exchange Dealers Association (BAFEDA) Md Afzal Karim.
He made the comment at the meeting held between the Association of Bankers, Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers Association (BAFEDA) on Wednesday.
Afzal said, “Some banks are taking remittances at Tk 124 per dollar. On the other hand, these banks sell their USD at a lower price. But it can't be done next time.”
“The central bank is concerned right now about this situation. If it finds anything, then the regulator will take the necessary steps,” he said adding that banks can offer Tk113-114 at the highest to their customers in the export proceeds, depending on the relation between customers and banks.
Meanwhile, he expressed his concern about the media report that says banks are offering Tk 124 in remittance.
Before October 31, ABB-BAFEDA held a meeting and revised the decision of 2.5 per cent extra incentives from the bank fund. Before the revised decision, banks could allow incentives to any percentage.
The meeting was very short. It was the recap meeting which was held to clarify the news report, sources confirmed to The Business Post after the meeting.
“The central bank fined the treasury head earlier. So, if any irregularities take place in the USD market again, the central bank will fine the treasury head,” said a treasury head on the condition of anonymity to the Business Post.
On July 31, ABB and BAFEDA decided to raise the dollar rates for remittance and export proceeds by Tk 0.50 to Tk 109 per dollar, and by Tk 1 to Tk 108.50, respectively.
