BB allows profit repatriation up to Tk100 crore

Bangla Press Desk:   The Bangladesh Bank has raised the prior approval threshold for capital repatriation by foreign investors to Tk100 crore, up from Tk10 crore, aligning with international standards in a move to further liberalise capital outflows.

A new master circular has been introduced to streamline procedures, particularly for non-resident investors in private and public limited companies not listed on the stock exchange.The circular, issued on Sunday by the Foreign Exchange Investment Department (FEID) of the Bangladesh Bank, significantly expands the scope of approvals that can be processed at the bank level. It also consolidates and updates earlier guidelines issued in 2018 and 2020.

Under the revised instructions, the process for share transfers and repatriation of sale proceeds for non-resident investors has been made more predictable, efficient, and transparent, while maintaining necessary regulatory safeguards.

The circular includes several key reforms, such as expanding the authority of authorised dealer (AD) banks, increasing transaction limits, simplifying valuation and reporting procedures, setting clear processing timelines, and establishing institutional arrangements within banks to review applications related to valuation and repatriation.

Source: daily Sun

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