Bangladesh Bank has introduced new directives to ensure that remittances from overseas Bangladeshis are credited to recipients’ accounts more quickly, securely, and transparently. Under the guidelines, authorised dealer (AD) banks are required to deposit incoming remittances either on the same day they are received or by the following working day. While the directives take immediate effect, banks have been granted until 31 March 2026 for full implementation.
The initiative aims to streamline the remittance process for expatriate Bangladeshis while enhancing the stability and reliability of the nation’s international financial flows. The new measures prioritise speed, transparency, and the use of modern processing technologies to facilitate smoother transactions.
Key Provisions of the Directive
Customer Notification: Banks must promptly inform recipients of incoming remittances through secure electronic channels.
Remittance Credit: Funds received during banking hours must be credited the same day; those received outside business hours should be credited by the next working day.
Processing Methodology: Banks are encouraged to adopt Straight-Through Processing (STP) or other risk-based expedited methods to accelerate fund transfers.
Provisional Credit: Initial credits may be based on preliminary information, with complete verification to follow.
Post-Credit Review: Any transaction that cannot be fully processed immediately must be completed within three working days.
Transaction Tracking: Unique End-to-End Transaction References (UETR) are mandatory to ensure traceability throughout the remittance cycle.
Digital Platform Strengthening: The digital forex system must be upgraded to simplify Form C and Form C (ICT) procedures.
The table below summarises the key elements of the directive:
| Area | Directive | Timeline / Process |
|---|---|---|
| Remittance Credit | Funds received during banking hours credited same day; outside hours next day | Immediate effect; full implementation by 31 March 2026 |
| Processing Method | STP or risk-based expedited processing | Initial credit based on preliminary data; full verification later |
| Post-Credit Review | Complete transactions within three working days if not immediately processed | Maximum three working days |
| Transaction Tracking | Use UETR throughout the remittance cycle | Applies to all remittance transactions |
| Digital Platform Enhancement | Strengthen digital forex platform for smoother Form C / Form C (ICT) clearance | Ongoing improvement |
A senior executive of an international bank in Dhaka observed, “These guidelines will enhance trust between banks and expatriate Bangladeshis, while reinforcing Bangladesh’s standing in the global financial network.”
Experts note that the new measures are likely to accelerate remittance processing, improve transparency, and modernise the country’s foreign currency management in line with international standards. Consequently, expatriates can expect their funds to be securely credited within two working days, generating a positive impact on household finances and the national economy.
By ensuring faster, safer, and more reliable financial transactions, Bangladesh Bank’s directive represents a significant step towards enhancing the overall efficiency of the country’s remittance system, benefiting both individual recipients and the broader economic framework.