The central bank yesterday relaxed rules for foreign nationals residing in Bangladesh to send remittances to their home countries.
Foreigners were allowed to send home 75 per cent of their monthly income, but now they will be able to remit up to 80 per cent, according to a Bangladesh Bank notice.
The rest of the money, kept in the form of savings in banks, could be repatriated when the foreigners left permanently after expiry of their job contracts.
But now the new rule allows repatriating the remainder at the end of every fiscal year.
Before sending the remittances, banks will have to ensure that the amount being moved does not exceed the balance in related bank accounts of the foreigners.
In addition, the amount will be calculated after deduction of the payable taxes.
A Bangladesh Bank official said the central bank had taken the initiative as a part of its efforts to liberalise the country's foreign exchange regime.
This will help foreigners perform their jobs more smoothly.
