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BB bars individuals from possessing over $10,000

  • Staff Correspondent
  • 1 September, 2022 12:00 AM
  • Print news
BB bars individuals from possessing over $10,000

Bangladesh Bank on Wednesday warned against the possession of more than $10,000 by any resident Bangladeshi citizen.

“Punitive action will be taken if anyone violates the directive,” said a press release, signed by Syeda Khanam, Director of the Department of Communications and Publications at BB.

Carrying more than the permissible amount is a punishable offense under the foreign exchange regulation act-1947.

In case of holding more that $10,000 or equivalent foreign currencies, the individual will have to convert the amount to local currency by September 30.

“We have not made any change in the existing law. The central bank has circulated the message for raising mass awareness,” Sarwar Hossain, Director of FEPD, told the Daily Sun.