Relaxed condition to send forex for higher education extended
The Bangladesh Bank today further extended the relaxed condition to send foreign currency for higher education, research and training of Bangladeshi students abroad.
A good number of students are still studying through online platforms from Bangladesh as some foreign nations are yet to withdraw the travel restrictions in containing the coronavirus pandemic, according to a central bank notice.
"To facilitate the situation, banks may affect outward remittances, on account of study abroad, under online teaching arrangements; subject to [their] receiving supporting documents with respect to such online courses and observing the required instructions," it said.
The relaxed conditions for sending money will remain valid till March next year.
Foreign educational institutions are admitting students and conducting online classes even during the ongoing Covid-19 pandemic, the circular read.
In August 2020, the central bank relaxed the rule for the first time saying that students could send money till March this year.
It later extended the timeframe until September before the latest initiative.