Bangladesh Bank, the central bank of the country, has issued a comprehensive circular aimed at streamlining the remittance of funds abroad in exchange for transport services. Released on Thursday, this new directive establishes a unified regulatory framework for ticket issuance and charge collection services involving international passenger transport, foreign airlines, and shipping companies’ cargo operations. This consolidation is designed to reduce procedural complexities, enhance regulatory compliance, and eliminate ambiguities present in previous disparate guidelines.
Table of Contents
Legal Framework and Implementation
The unified circular has been issued under Section 20(3) of the Foreign Exchange Regulation Act, 1947. While all transactions and outward remittances remain subject to this Act and subsequent relevant circulars, the central bank has merged all prior transport-sector instructions into a single, cohesive document. Necessary amendments have also been integrated to simplify operational procedures.
According to the central bank, this directive will remain in effect for one year from its date of issuance. Any new instructions issued within this period concerning the transport sector will be considered as integrated components of this overarching framework.
Scope of the Unified Directive
The instructions cover a broad spectrum of foreign exchange transactions within the transport and logistics sectors. Key areas addressed include:
International Travel and Freight: Procedures for issuing tickets and collecting freight charges for international passenger and cargo services.
Foreign Entities: Management of foreign exchange transactions for overseas airlines and shipping lines operating within Bangladesh.
State-Owned Enterprises: Financial protocols for national carriers, specifically Biman Bangladesh Airlines and the Bangladesh Shipping Corporation.
Private Sector and Logistics: Specific guidelines for private shipping companies, airlines, courier services, and freight forwarders.
Account Management: Provisions for the operation and maintenance of foreign currency accounts held by shipping companies, airlines, and freight forwarding agencies, including those belonging to Bangladeshi transport companies engaged in international operations.
Tourism: Updated directives for tour operators to ensure transparency and alignment with the regulatory structure within the growing service industry.
Categorisation of Regulated Entities and Services
| Sector | Primary Entities Covered | Key Regulated Activities |
| Aviation | Foreign Airlines, Biman Bangladesh Airlines | Ticket sales, passenger fees, and ground handling remittances. |
| Maritime | Foreign Shipping Lines, Bangladesh Shipping Corp | Freight charge collection and container handling fees. |
| Logistics | Freight Forwarders & Courier Services | Service charge collection and agent commission transfers. |
| Tourism | Registered Tour Operators | Outbound tour package payments and service transparency. |
| Finance | Authorised Dealers (Banks) | Maintenance of Foreign Currency (FC) accounts for transport firms. |
Objective and Expected Impact
A senior official of Bangladesh Bank noted that this consolidated framework would make the outward remittance process for the transport and logistics sectors more efficient and transparent. By centralising these rules, the central bank intends to ensure stricter adherence to foreign exchange regulations while facilitating smoother business operations for international service providers. The initiative reflects a strategic move to modernise foreign exchange management, providing a clearer roadmap for authorised dealers and stakeholders to follow, thereby reducing the risk of non-compliance.