BB bars outward remittances for training, seminar, workshop

The Bangladesh Bank has imposed restrictions on outward remittances for participating in training, seminar, and workshop abroad.

These restrictions came in line with the government’s notifications on limiting foreign travels and the Foreign Exchange Policy Department (FEPD) of the central bank issued a circular in this regard on Sunday.

According to the circular, banks have been instructed to refrain from the release of foreign exchange on account of registration/participation fees for attending training, seminar, and workshop abroad.

The restriction is also applicable for the officials of banks and financial institutions, the circular said.

As per existing rules, banks can release foreign exchange on account of registration/participation fees on behalf of officials of the government, autonomous/semi-autonomous institutions, employees of banks and financial institutions, faculty members of banking training institutions, employees/officials of company/firm/institution/NGO registered and operating in Bangladesh.

An official of the central bank said that the restriction has been imposed in accordance with the government notifications regarding foreign travel.