Jumbangla Desk: The Central Bank has made it easier for companies in the information technology (IT) sector, including airlines, to send money abroad. From now on, the domestic airlines companies can remit the rent or lease money of aircraft brought from different countries abroad without bank approval. Until now permission was required to send these money.

BANGLADESH BANK

On Thursday (October 17), three separate circulars have been issued by Bangladesh Bank's Foreign Exchange and Policy Department.

According to the instructions, from now on local airlines will be able to remit the rent or lease money of the aircraft they bring from abroad through the bank without the approval of Bangladesh Bank.

At the same time various expenses of cloud services, IT infrastructure and software applications can be remitted abroad on behalf of the customer through the bank. Besides, money will be remitted abroad for these services, including software maintenance, through local organizations.

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General permission has been given to expatriates to open bank accounts abroad and deposit the required amount as such for the purpose of going abroad for employment or migration. In this case, according to the demand of the foreign authorities, the necessary money can be deposited as a bank abroad. Bangladesh Bank's approval will not be required for this.

When asked, a related official of Bangladesh Bank said that the foreign transaction system is constantly being made timely. Under the new guidelines, authorized dealer banks will be able to remit money abroad on behalf of their customers. In changing circumstances, sending money abroad through banking channels has become easier. Entrepreneurs in this sector will benefit from this.