BB eases remittance of consular, visa processing fees

 
Bangladesh Bank (BB) has relaxed regulations governing the remittance of consular and visa processing fees, allowing Authorized Dealers (ADs) to transfer such funds abroad without obtaining prior approval from the central bank.

The move is aimed at streamlining foreign exchange procedures related to diplomatic and consular financial transactions, said a BB circular on Monday.

Under the revised provision, consular fees collected by foreign embassies in Bangladesh in local currency and deposited in designated TK accounts maintained with Authorized Dealers may now be remitted abroad directly, according to BSS report. 

Previously, such transactions required prior approval from Bangladesh Bank.

The circular also permits the remittance of visa processing fees collected through nominated resident agents of foreign embassies. 

These funds may be transferred to bank accounts designated by the respective embassies, their home offices, or other competent authorities abroad.

To facilitate the process, Bangladesh Bank has instructed Authorized Dealers to collect visa fees according to rates determined by the concerned embassies. 

Banks must obtain invoices from embassies, home offices or competent authorities, supported by applicant-wise statements of collection.

The central bank further directed Authorized Dealers to ensure the deduction of all applicable taxes before remitting the funds overseas.

The circular replaces sub-paragraph (1) of paragraph 31 of FE Circular No. 37 issued on September 30, 2025, while all other instructions relating to the matter will remain unchanged.