BB eases ship lease remittance rules to boost shipping sector

Bangladesh Bank (BB) has allowed domestic shipping companies to remit vessel lease rentals abroad, in a move aimed at strengthening and modernising the country’s maritime financing framework.

The decision extends foreign exchange flexibility previously available only to the aviation sector, bringing shipping under a similar regulatory regime to facilitate smoother international leasing arrangements, said a BB circular issued on Thursday.

Under the new directive, Authorised Dealers (ADs) in foreign exchange are now permitted to process remittances for ship lease rentals on a ‘mutatis mutandis' basis, applying existing aviation-sector rules with necessary adjustments for maritime operations.

The policy aligns with Paragraph 53 of FE Circular No. 37 (30 dated September 2025), which earlier allowed airlines to remit lease payments up to “guaranteed hours” specified in contracts.

The central bank said the same framework will now be adapted for shipping companies to reduce administrative complexities and support fleet expansion.

To qualify for outward remittances, shipping companies incorporated in Bangladesh must meet strict regulatory requirements, including securing all necessary government approvals for vessel operations, maintaining regular submission of financial returns to Bangladesh Bank, and complying with rules on repatriation of surplus earnings under Paragraph 08 of FE Circular No. 08 (dated 7 May 2026) and subsequent updates.

Bangladesh Bank has directed all Authorised Dealers to inform their clients about the updated provisions promptly.

It also clarified that all other existing provisions of the 2025 aviation-related circular will remain unchanged and must be strictly followed by financial institutions.