Dhaka, Bangladesh (BBN) - The central bank has relaxed foreign exchange regulations allowing banks to remit O-Level/A-Level exam-related expenses aboard without prior approval from the Bangladesh Bank (BB).
The authorized dealer (AD) banks have also been asked to allow authorized examination centers to collect admission and examination-related expenses in local currency, Bangladesh Taka for outward remittances.
The examinations include the Test of English as a Foreign Language (TOEFL), Scholastic Assessment Test (SAT), etc., and secondary and higher secondary equivalent studies under recognized foreign academic bodies/authorities for outward remittances.
In this case, examination centers-customers need to be duly authorized by relevant bodies/authorities abroad.
“It has been decided that ADs may release foreign exchange on account of admission/registration and examination-related fees for studies in secondary and higher secondary equivalent levels under recognized foreign academic bodies, examinations of which are to be held in authorized examination centers in Bangladesh,” the central bank said in a notification on Monday.
Earlier, banks could allow such remittances with approval of the central bank, officials said.
From now on, banks can remit on behalf of exam centers for conducting examination in Bangladesh of secondary and higher secondary equivalent studies such as O-Level, A/-Level, they added.
In addition, fees for examination of TOEFL, SAT, etc. can be remittable without the central bank approval, according to the officials.
BBN/SSR/AD