Bangladeshis is now able to use int'l debit cards while travelling
Bangladeshis from now on may use international debit cards to stay transactions while going to any foreign region, Bangladesh Lender said in a circular on June 16.
Before, travellers had to spend forex abroad using international bank cards.
"It's been decided that authorised dealers [ADs] may issue international debit cards [IDCs] towards eligible persons against their annual travelling entitlements," the circular browse.
The circular further said international debit cards ought to be issued within the twelve-monthly travel entitlement with an endorsement on passports, amongst others.
Authorised supplier banks shall have appropriate arrangements with the neighborhood currency accounts to which IDCs are linked so as to make sure that amount in forex cannot be expended more than endorsements within the total annual travelling entitlement, the circular added.
The central bank circular also said that the local currency accounts to which IDCs are linked must have sufficient funds to support the expenses to be met from the cards.
Alternatively, ADs should retain the endorsed volume equivalent in BDT, from local currency accounts in the margin accounts, to be maintained in the names of customers for smooth adjustment of the expenses incurred through IDCs, added the circular.
Now, dealers happen to be authorised to concern international bank cards and debit cards in favour of eligible people against their total annual travel entitlements, according to FOREX Transactions Guidelines-2018.
