In a major move to tighten oversight of foreign exchange transactions and streamline overseas payments, Bangladesh Bank on Thursday introduced a unified regulatory framework governing outward remittances for transport and logistics services.
The central bank issued a comprehensive directive bringing ticketing, rental charges and overseas payments related to tour operators, international transport services, foreign airlines, shipping companies, courier operators and cargo handlers under a single set of rules.
The latest move consolidates multiple previous circulars and fragmented instructions into one integrated framework aimed at reducing procedural complexity, strengthening compliance and enhancing transparency in the country's rapidly expanding transport and logistics sector.
Officials said the new framework would simplify foreign payment procedures while ensuring stricter monitoring of outward remittances amid continued pressure on the country's foreign exchange reserves.
According to the Bangladesh Bank circular, all foreign exchange transactions and outward remittances related to transport services must now be conducted strictly under the provisions of the Foreign Exchange Regulation Act, 1947, along with subsequent guidelines issued by the central bank.
The new rules will apply to private sector airlines, international cargo operators, shipping companies, freight forwarders, courier services and travel-related businesses involved in cross-border payment settlements.
Bangladesh Bank said the initiative was taken to eliminate ambiguities in earlier directives and create a more efficient and transparent system for handling foreign exchange transactions in the sector.
A senior Bangladesh Bank official said the integrated framework would strengthen regulatory oversight while making remittance procedures faster and more effective for businesses.
"The new system will make outward remittance procedures in the transport and logistics sector simpler, more transparent and more accountable. At the same time, compliance in foreign exchange transactions will be strengthened significantly," the official said.
Industry insiders believe the move comes at a crucial time as Bangladesh continues efforts to stabilise its external sector and improve discipline in foreign currency transactions amid persistent dollar market pressure.
The unified rules are also expected to reduce administrative delays, ease documentation procedures and improve operational efficiency for businesses involved in international transport and logistics services.
