Bankers can now go abroad for important official purposes
The central bank issued a circular today, slightly relaxing the policy for bank officials travelling abroad
From now on, bank officials can travel abroad to participate in business meetings with foreign banks and attend meetings crucial for official work.
The central bank issued a circular today (11 June), slightly relaxing the policy for bank officials travelling abroad. However, officials must obtain permission from the appropriate authorities at their banks for such travel.
In 2022, the Bangladesh Bank restricted bank officials from going abroad to reduce dollar spending.
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During that time, it was stated that bank officials and employees would not travel abroad for training, seminars, workshops, or study tours funded by banks. However, individuals could travel abroad for medical treatment or to perform hajj at their own expense. Additionally, emergency medical treatment abroad, recommended by a specialist doctor, was allowed.
Bank officials were also permitted to participate in training, seminars, workshops, and study tours fully sponsored by foreign organising agencies.
The previous obligations for bank officials regarding foreign travel have been maintained, and there have been no changes in the directives from banks' managing directors and chief executive officers to obtain approval from the Bangladesh Bank for travel abroad and provide necessary information.
In May 2022, the central bank issued a circular banning "personal" foreign travel for bankers, prohibiting all types of foreign travel for officers and employees of commercial banks.
The Bangladesh Bank stated in the circular that they could not travel abroad, even for "personal" expenses, without prior permission from the bank.
However, the ban on foreign travel was slightly relaxed the following day. During that time, bank officials were permitted to travel abroad at their own expense for special needs.
To reduce pressure on reserves and address the dollar crisis, the Bangladesh Bank is discouraging the import of luxury goods. As part of this effort, a ban has been imposed on public and private officials and employees from travelling abroad, according to a senior official of the central bank.
