Dhaka:Bangladesh Bank has announced a new policy allowing merchants, including hotels, resorts, restaurants, shopping malls, and retail outlets, to retain up to 15 percent of their foreign currency earnings in Foreign Currency (FC) accounts. This policy applies to payments made by foreign visitors using internationally issued cards and other approved payment methods.
According to Bangladesh Sangbad Sangstha, the central bank issued a circular to all authorized dealers in foreign exchange, aiming to boost sales of goods and services to foreign visitors in Bangladesh. The circular specifies that the remaining 85 percent of foreign currency receipts must be converted into Bangladeshi Taka.
The retained foreign currency can be used to settle legitimate foreign exchange obligations arising from current account transactions, including international card payments, aligning with a Bangladesh Bank circular issued on September 30, 2026. Additionally, the circular mandates that authorized dealers ensure the deduction and payment of applicable taxes and VAT.
Banks are required to verify that merchants have the necessary arrangements to accept payments through internationally issued cards and other valid payment instruments. Furthermore, the central bank has instructed authorized dealers to adhere to customer identification (KYC), anti-money laundering, and combating the financing of terrorism (AML/CFT) standards, along with reporting requirements to Bangladesh Bank.