BB eases foreign currency payment for studying language courses abroad

The Bangladesh Bank has allowed banks to release foreign currencies for the payment of expenses related to studying in language courses abroad, even if the course is not a prerequisite for a bachelor's degree.

The move is aimed at expanding opportunities for Bangladeshis seeking employment abroad, reads a circular issued by the central bank today (22 May).

According to the circular, authorised dealer (AD) banks can now remit foreign currencies on behalf of Bangladeshi nationals to cover permissible fees for language courses without requiring prior approval from the central bank.

Previously, banks were allowed to release foreign exchange for study in regular academic programs, including undergraduate and postgraduate degrees, language courses that are prerequisites for university admission, and professional diploma or certificate courses at recognised institutions abroad.

With the new directive, students can directly remit tuition and admission fees for standalone language courses through their banks.

Business insiders believe this step will facilitate employment abroad, particularly in countries like Japan, where language proficiency is a key requirement. Since enrolling in such courses does not require the involvement of recruitment agencies, the process is expected to be simpler and more accessible for individuals seeking jobs overseas.

The circular is effective immediately. Other existing instructions regarding foreign exchange for education remain unchanged.