Bangladesh Bank has withdrawn the provision of mandatory submission of documents for getting incentive against inward remittance of USD $ 5000 or Tk50, 0000 and upward, in a move to encourage greater inflow of remittance.
Foreign exchange department of the central bank issued a circular on Monday withdrawing the document submission obligation for an indefinite period.
As a result, the remitters will get a 2.5 per cent instant incentive for any amount of remittance sent in the formal channel, without submitting documents to the foreign exchange houses abroad.
The BB asked all the scheduled banks to execute the decision from May 23.
In the current fiscal year Bangladesh so far received $18.62 billion in remittance.
Value of taka declines further
