Dhaka, Bangladesh (BBN) – The central bank has relaxed regulations allowing students to use the annual travel quota in foreign exchange instead of transit expenses earlier, officials said on Wednesday.
Under the relaxations, the authorised dealer banks, officially known as ADs, may release the entire unused annual travel quota in foreign exchange to Bangladeshi students proceeding abroad against one way ticket to study under admissible courses.
“Other rules regarding release of foreign exchange for travel abroad will remain unchanged,” the Bangladesh Bank said in a circular Wednesday.
The ADs earlier are allowed to release foreign exchange to students proceeding abroad for study on account of transit expenses upto US$500 or its equivalent.
Earlier on April 6 last, the BB relaxed regulations by enhancing private travel entitlement to US$12000 from $7000 to facilitate tour abroad.
Currently, the ADs may release foreign exchange up to US$5000 or equivalent per person from $2000 during a calendar year to Bangladesh nationals proceeding by by air or land to destinations in SAARC member countries and Myanmar.
Also for visits of Bangladesh nationals to destinations in countries other than those mentioned above, up to US$ 7000 per person from $5000 may be issued during a calendar year.
BNN/SSR/AD-29May14-1:11 am (BST)
