Students, professionals can pay overseas course fees in dollars via banks from now on

Bangladeshi students and professionals can remit dollars to foreign institutions for appearing in examinations or certification via banks, from now on.

The Foreign Exchange Policy Department (FEPD) of the central bank issued a circular in this regard today (20 May), stating, "This facility has been introduced in order to facilitate development of professional skills."

A senior official of the central bank said students or professionals in Bangladesh who want to pay fees for professional or educational examinations like Chartered Financial Analyst (CFA), Certified Equity Market Analyst (CEMA), Association of Chartered Certified Accountants (ACCA) etc, will now be able to do so through banks. 

For this, no separate approval from the central bank is required.

According to the circular, remittance is expected to be affected in the name of the foreign institutions abroad, subject to deduction of applicable taxes. 

The facility will be admissible for one correspondence course at a time. Banks may execute the remittances through international card channels. 

All purchases of foreign exchange throughout the entire duration of a correspondence course should be from one bank's branch. 

Banks shall maintain a separate file for each student with all relevant papers in readiness for perusal by the inspection team of the Bangladesh Bank.