DOT Desk: [2] All scheduled banks have been asked to facilitate the processing of repatriating money by foreigners living in Bangladesh from their foreign currency account balances, reports TBS.
[3] The Bangladesh Bank yesterday issued a circular, instructing the banks to smoothen the fund repatriation process complying with the foreign exchange guidelines. [4] The instruction came after the central bank received complaints that foreigners are being harassed by the banks in repatriating their foreign currency account balances when they leave the country. [5] Foreign workers working in the country, multinational companies, non-resident Bangladeshis can hold foreign currency accounts, said Mohammad Khurshid Wahab, general manager at the Bangladesh Bank. [6] They need to repatriate their balances when leave the country but the banks are delaying the process, causing harassment for them, he also said.
[7] The banks send repatriation proposals of foreigners to the central bank for approval, which is not required, Mohammad Khurshid Wahab said. [8] In this circumstance, the central bank asked the banks to follow the repatriation guidelines and not to delay the process, he added.
According to a survey conducted by Transparency International Bangladesh (TIB) recently found that some 2,50,000 foreigners are working in Bangladesh legally and illegally.