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Bangladesh Bank Circular to ease foreign exchange transactions for BASIS members
02 Sep 2010
Bangladesh Bank has issued a special circular (attached herewith) on September 2, 2010 allowing some special provisions for BASIS member software and ITES companies for business related foreign exchange transactions. As a result of this circular, BASIS member companies will now get the following facilities-
  1. Software and ITES companies (both exporting as well as domestically focused companies) will be allowed to use maximum US$ 10,000 (per year) for conducting transactions like domain registration, server hosting, software licensing, international alliance etc.
  2. BASIS member companies will be issued International Credit/Debit card with the transaction limit of US$ 1,000 (which can be subsequently refilled after submitting documents of previous transactions; up to the cumulative amount US$ 10,000 per year) that can be used for the above mentioned purposes.
  3. For BASIS members who conduct international e-Commerce business and need to receive payment from foreigners (through international credit card), the new circular makes way for receiving such amount directly to the local bank account (local merchant account) of the company for selling goods/services internationally.
For more detail please check this link : Bangladesh Bank Circulation
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