Home ›› 19 Nov 2021 ›› Front
The Bangladesh Bank (BB) on Thursday clarified its regulation on repatriation of service export proceeds.
The Foreign Exchange Policy Department of the central bank issued a notice in this regard.
The central bank said repatriation of export proceeds within four months is equally applicable for service exports.
Service exporters can maintain merchant accounts abroad to repatriate income through their respective banks in Bangladesh, as per the notice.
The BB notice adds that retention of export proceeds abroad in any form without limiting to equity or portfolio investment, purchase of physical assets and virtual assets, and maintaining accounts regardless of currencies including crypto currencies constitutes contravention of the Foreign Exchange Regulation Act, 1947.
