BB revises eligibility for purchasing Wage Earner Development Bond

Bangladesh Bank has revised the eligibility for purchasing Wage Earner Development Bond (WEDB).

The central bank issued a circular in this regard on Monday.

The circular signed by general manager Khurshid Alam said Bangladeshi people, who are now working with foreign shipping and airlines companies, will not be eligible to invest in the fixed-income instrument.

Bangladeshi people working in foreign offices or liaison offices but owned by Bangladeshi entrepreneurs will also not be able to purchase the bond.

Bangladeshi expatriates getting pension money derived from overseas companies received in foreign exchange abroad will also not be allowed to invest in the bond.

As a result, many expatriates who got paid in foreign currencies used to purchase and invest in the bond after their retirement, won’t be able to do so from now on.

The Wage Earner Development Bond is a product designed by the Bangladesh Bank for Bangladeshi nationals living and working abroad.

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