United News of Bangladesh

Bangladesh Bank (BB) has further simplified foreign exchange transaction procedures for freelancers and IT service exporters to streamline incoming earnings and facilitate necessary international payments. According to the central bank, the updated guidelines aim to remove operational bottlenecks, enabling freelancers to easily receive payments for service exports from abroad and execute legitimate foreign currency transactions for operational costs – such as software subscriptions, domain and hosting renewals, and digital marketing expenses. BB opens one-time exit window for bad loans at finance companies Under the relaxed framework, authorised dealer (AD) banks have been directed to expedite the processing of inward remittances and ensure smoother access to Exporter’s Retention Quota (ERQ) accounts and international payment cards. Industry leaders and freelancing communities have welcomed the central bank's initiative, noting that simplifying financial channels will encourage more digital professionals to bring their foreign earnings through official channels, ultimately driving the growth of Bangladesh’s service export sector and bolstering foreign exchange inflows.