Cenbank raises limit for overseas medical expenses to $15,000

The Bangladesh Bank has raised the limit for sending money abroad for medical treatment, allowing up to $15,000 to be remitted without prior approval.

Previously, banks could send up to $10,000 without having to seek permission. 

Under the new directive, banks can now send an additional $5,000, but must still obtain authorisation on behalf of their customers. 

The new instructions were issued through a circular today (12 May).

In most cases, Bangladeshi patients have traditionally sought advanced medical care in India. However, due to recent visa complications under the interim government, many are now turning to alternative destinations such as Thailand, Singapore, the UK, and the US — where treatment costs are generally higher, increasing the demand for foreign currency.

According to the circular, up to $15,000 can be remitted directly in the name of the hospital or via international cards. Of this, patients may withdraw up to $5,000 in cash if needed.

Central bank officials said easing access to legal remittance channels for medical expenses will help curb reliance on informal money transfer methods like hundi, which negatively affects the country's remittance inflow.

Earlier this month, the central bank also simplified foreign remittance rules for several sectors, including education. Under the new system, banks can use international card platforms to facilitate payments for expenses such as tuition, visa and registration fees, training abroad, IT services, and now medical care.