TDS Desk:

Bangladesh Bank has increased the annual foreign exchange travel entitlement for Bangladeshi nationals travelling abroad to USD 18,000 from USD 12,000, aiming to facilitate genuine travel-related foreign exchange requirements.

The central bank issued a circular on Sunday revising the existing travel entitlement applicable to adult Bangladeshi nationals residing in Bangladesh.

The annual travel entitlement was previously set at USD 12,000 for an adult Bangladeshi national. The latest decision raises the ceiling by USD 6,000, or 50%, marking a significant relaxation in the foreign exchange facility for outward travel.

According to the circular, Authorized Dealers (ADs) are permitted to release foreign exchange to an adult Bangladeshi national for travel abroad during a calendar year up to USD 18,000 or its equivalent, compared with the previous ceiling of USD 12,000.

Bangladesh Bank said the decision was taken with a view to facilitating genuine travel-related foreign exchange requirements of Bangladeshi nationals and considering the evolving needs of international travel.

The enhanced entitlement will apply on an annual basis during a calendar year.

However, the entitlement for minors below 12 years of age will remain at 50% of the amount admissible for adults.

The central bank has also retained the existing restriction on the release of foreign exchange in the form of US dollar notes. Cash dollar release will remain capped at USD 5,000 per person, within the applicable annual travel entitlement.

The move is expected to provide greater flexibility to Bangladeshi travellers in meeting legitimate expenses related to overseas travel, including tourism, family visits, and other permissible purposes.