Bangladesh Bank has issued a new master circular consolidating all existing regulations on outward remittances into a single document to simplify and modernise the country’s cross-border transaction framework.

The central bank released the directive on 30 September, with the circular remaining valid for one year from the date of issuance. Officials said the move seeks to remove procedural ambiguities and enhance efficiency for both authorised dealer banks and remitters.

The circular covers a wide range of outward remittance categories, including travel expenses, private transfers, profit and dividend repatriations, institutional payments, export claims, and transactions related to insurance and reinsurance.

It also sets out provisions for payments through international cards and the use of card-based platforms as authorised payment channels.

However, it excludes regulations governing import payments and transport service remittances, which remain under separate directives.

Central bank officials said the consolidation brings greater clarity to existing procedures and aligns Bangladesh’s regulatory framework with global payment standards, especially in light of the growing use of digital payment systems.

Bankers and remittance senders have welcomed the circular, calling it a timely step towards simplifying compliance and supporting the transition to more technology-driven financial operations.

The initiative follows similar comprehensive circulars previously issued by the Bangladesh Bank on exports, import payments, and loans and guarantees, forming part of a broader effort to harmonise financial regulations.