Bangladesh Bank eases forex rules for freelancers nationwide

Bangladesh Bank has unified and expanded its rules to ease foreign exchange transactions for freelancers and individual service exporters, targeting growth in the digital services sector. The central bank now accepts electronic evidence for payments, reducing reliance on traditional export documentation and enabling smoother digital trade. Inward remittances up to $20,000 can be credited without formal declarations, and online payment gateway transactions are allowed up to $10,000 per transfer, with safeguards to ensure timely repatriation. The policy also introduces dual-currency freelancer cards and broadens the use of mobile financial service providers and other payment service providers to widen access to formal channels. ICT freelancers may retain up to 50% of earnings in foreign currency under the Exporters’ Retention Quota, while other service exporters can retain up to 30%, boosting flexibility for international expenses. Market observers say the moves should formalize earnings, improve transparency, and strengthen foreign exchange inflows as Bangladesh’s digital economy expands.