Bangladesh Bank eases rules for inward remittances

Bangladesh Bank has relaxed the banking rules governing remittance inflows amid an ongoing foreign currency crunch.

From now on, letters of reference or certificates from Bangladeshi missions overseas will no longer be needed to make drawing arrangements. 

The central bank says banks can now establish drawing arrangements, an official channel to receive remittances, with exchange houses abroad without prior permission.

Detailed information about the arrangements has to be submitted afterwards.

Banks, however, remain barred from imposing charges on beneficiaries while disbursing remittances.