The Financial Express

Remittance incentive allowed from Jul'19

| Updated: September 11, 2020 15:29:06

- Reuters file photo - Reuters file photo

Bangladesh Bank (BB) on Thursday said that expatriate workers serving with shipping or airlines owned by Bangladeshi or foreigners can enjoy cash incentives on remittance effective from July, 2019.

The central bank issued a circular as many banks are confused as to whether they will settle the cases from the date of issuance of circular or from July 2019.

The BB had issued a circular regarding the matter on March 11, 2020.

Bangladeshi people working abroad under any Bangladeshi owned shipping/airlines, foreign owned shipping/airlines and sending their hard-earned foreign exchanges through legal channels are eligible for the cash incentive.

The 2.0 per cent cash incentive is also applied to the Bangladeshi people working abroad with UN agencies and other international agencies. But Bangladeshi citizens who are government employees working in different overseas offices/missions are not eligible for the facility.

MdKhurshidWahab, general manager at the Foreign Exchange Policy Department told the FE that pending cases will get the benefit. But those who have withdrawn money will not be considered.

"Pending cases in the banks will enjoy it, but the beneficiaries who have already withdrawn the money will not get the benefit for that particular amount," Mr. Wahab said.

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