On Monday, Bangladesh Bank issued a circular in this regard.
According to the new instructions, banks will now be able to release up to $30,000 for medical treatment abroad without Bangladesh Bank approval. Previously, this limit was $15,000.
Rules have also been relaxed in the case of education abroad. The circular said that previously, prior approval from Bangladesh Bank was required to send foreign currency abroad for school-level education. Under the new instructions, from now on, AD banks will be able to release foreign currency for secondary and higher secondary level equivalent education without prior approval from the central bank.
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In addition, foreign currency can be sent without prior approval from Bangladesh Bank for certification and professional courses, as well as regular academic courses conducted under the correspondence method.
Regarding RFCD accounts, the new instructions said that Bangladeshi citizens residing in Bangladesh can deposit foreign currency brought from abroad in this account. However, for this, the relevant foreign currency must be declared to the customs authorities through the FMJ form.