Medical treatment remittance limit raised to $30,000

The Bangladesh Bank has relaxed foreign exchange regulations to facilitate outward remittances for medical treatment and education abroad, while tightening requirements for depositing foreign currency in Resident Foreign Currency Deposit (RFCD) accounts.

Under the revised rules, authorised dealers (ADs) can now release up to US$30,000 or its equivalent in foreign currency for medical treatment abroad without prior approval from Bangladesh Bank, raising the previous limit of $15,000.

In a circular issued on Monday, the central bank said the move aimed to provide greater flexibility in outward remittances and facilitate legitimate current-account transactions.

The central bank has also allowed ADs to release foreign currency for secondary and higher secondary-level studies abroad without prior approval, subject to verification that free education is not available.

Previously, prior approval from Bangladesh Bank was required to release foreign currency for school-level education abroad.

In another relaxation, ADs can now release foreign currency without prior approval for regular academic studies pursued through correspondence courses, in addition to certification and professional courses.

The central bank said the relevant provisions of its Foreign Exchange Circular issued on 30 September 2026, had been amended to incorporate the changes.

However, Bangladesh Bank has introduced a stricter condition for depositing foreign currency in RFCD accounts.

Under the revised instruction, foreign currency brought into Bangladesh by resident Bangladeshis will be eligible for credit to RFCD accounts only if it has been declared to the Customs Authority using the Foreign Money and Jewellery Declaration Form (FMJ).

The central bank said the decision was taken considering the expansion of individual outward remittance facilities for private travel, medical treatment, education abroad and other permitted purposes.

All other existing foreign exchange regulations will remain unchanged, the circular added.