27 banks have breached the dollar limit through credit cards. In this case, the central bank has asked for an explanation within five working days. On Sunday (September 4), a letter was sent to the managing director of these domestic and foreign banks asking for an explanation.
Bangladesh Bank’s spokesman and executive director Md. Sirajul Islam said, a total of 71 credit cards have been used to spend excessive amounts of foreign currency. These cards have been issued by 27 banks. They have been asked to know the reasons for the out-of-limit expenditure. These banks have been asked to respond within five working days.
According to the Foreign Exchange Control Act, a customer can spend a maximum of $12,000 worth of foreign exchange per year. In special cases it can be more up to 500 dollars.
Although there is a rule to limit the use of foreign currency on credit cards, the banks did not follow that rule in the case of those 71 customers.
According to sources, Bangladesh Bank’s monitoring has caught the fact that up to 20 thousand dollars have been spent through 71 credit cards. However, it is not yet known how many dollars the customers of the cards have spent in total and how much more than the limit.
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