Bangladesh Bank has doubled the amount of foreign currency individuals can take abroad for medical treatment without prior approval from the central bank, easing access to foreign exchange for patients seeking healthcare overseas.
Under the revised rules, authorised dealer (AD) banks can now release up to $30,000, or its equivalent in other foreign currencies, for a patient’s treatment abroad without Bangladesh Bank’s prior approval. The previous limit was $15,000.
The central bank issued a circular on Monday, relaxing foreign exchange regulations in several other areas, including overseas education and foreign currency brought into the country by returning Bangladeshis.
The new rules have also removed the requirement for prior central bank approval for remitting education expenses for secondary and higher secondary-level studies abroad.
AD banks can now directly remit tuition and other eligible education expenses for such students, provided they verify whether free education is available in the destination country.
The circular also eased rules on remittances for professional and certificate courses, as well as regular academic programmes pursued through correspondence or distance-learning systems. Such payments can now be made through banks without prior approval from the central bank.
In another relaxation, resident Bangladeshis returning from abroad can deposit foreign currency brought into the country into Resident Foreign Currency Deposit (RFCD) accounts after declaring it to customs authorities through Form FMJ.
The facility covers foreign currency brought back from personal travel, medical treatment, education and other permitted purposes.
Bangladesh Bank said all other existing rules and regulations governing foreign exchange transactions would remain unchanged.