Bangladesh Bank allows dollar remittances for overseas tour packages

Dhaka: Bangladesh Bank has allowed authorized dealers (ADs) to process foreign exchange remittances for overseas tour packages arranged by locally licensed tour operators, in a move aimed at supporting outbound tourism while maintaining tighter control over foreign exchange.

Under a circular issued Sunday by the Foreign Exchange Policy Department, the facility will be available only to tour operators that are members of the Tour Operators Association of Bangladesh (TOAB) and have arrangements with overseas tour operators, hotels or destination management companies.

Eligible operators will be allowed to collect package payments in taka from Bangladeshi residents for accommodation, transportation and other destination services. AD banks can then remit the corresponding foreign currency to overseas service providers at prevailing exchange rates.

The facility allows remittances of up to USD 3,000 per traveler per calendar year, outside the regular annual travel quota. For amounts exceeding the limit, payment must be collected in foreign currency through international cards.

Banks must verify invoices, itineraries, traveler details, agreements with overseas partners and proof of taka payments before processing remittances. Tour operators must also track foreign exchange released against each traveler’s passport and obtain a declaration that the annual limit has not been exceeded through another operator.

Bangladesh Bank said the facility cannot be used for non-travel-related fund transfers, unconfirmed bookings or disguised capital transactions. ADs must also conduct due diligence and report remittances to the central bank within seven days.