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Expatriates cannot keep more than 10 thousand dollars: Bangladesh Bank

Expatriate Bangladeshis cannot keep a maximum of $10,000 or foreign currency of equivalent value with them for more than one month when they come to the country. Bangladesh Bank said this.

On Wednesday (August 31), the central bank issued a circular in this regard. And to increase awareness, it has been sent to all commercial banks for demonstration.

The notification said, “A resident Bangladeshi can deposit more than $10,000 in cash or equivalent foreign currency brought with him from abroad with himself or an authorized dealer bank as resident foreign currency deposit.”

The notification also said, “It is mandatory for expatriate Bangladeshi citizens to sell or deposit as resident currency deposit with an authorized dealer bank or licensed money changer within one month of bringing in excess foreign currency of $10,000 to Bangladesh.”

According to Bangladesh Bank’s notification, “Holding foreign currency beyond the said limits is a punishable offense under the Foreign Exchange Regulation Act, 1947.” Unauthorized foreign currency, if held by expatriate Bangladeshis, is requested to be sold to authorized dealer banks or licensed money changers by September 30.”

Tags: Expatriates thousand dollars Bangladesh Bank

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