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October 15, 2018 - An honorary crest-2018 was handed over on the occasion of the 18th anniversary of Sharmin Selim Tuli’s business. Twelve successful women in different fields of the society were honored. The book ‘Rup Charchar Satsotero’ written by Sharmin Selim Tuli was unveiled at All-Community Club of Gulshan-2 in the city on Saturday evening. State Minister for Women and Children Affairs Meher Afroz Chumki, Salma Islam MP, Raziuddin Ahmed Razu, MP among others were present.
October 15, 2018 - SAK Ekramuzzaman, Managing Director of Rakeen Development Company (BD) Limited, handing over a symbolic key to a flat owner of Bijoy Rakeen City in Mirpur at a ceremony on Sunday. Lt. Col (Retd.) AKM Zahurul Islam, Company Chief Operating Officer and other senior officials of the company were also present.
October 15, 2018 - Befitting reply awaits Padma Bridge “conspirators”: PM
October 15, 2018 - Dr Kamal joined hands with killers: PM
October 15, 2018 - Youth engagement in development process a must to achieve SDGs: Rizvi
October 15, 2018 - President, PM greet Hindu community on Durga Puja
October 15, 2018 - Jukto Front’s alliance with criminals ridicules nation: Inu
October 14, 2018 - BNP is a terrorist party: Quader
October 14, 2018 - All set to make Prime Minister’s visit to Mushiganj success
October 14, 2018 - GDP to increase by 2 percent due to Padma Bridge: Quader
October 14, 2018 - 17,000 assistant teachers to be promoted to headmaster: Mostafizur
October 14, 2018 - No alternative to Sheikh Hasina’s leadership for dev: Moshiur
October 14, 2018 - Next JS election as per constitution: Hanif
October 14, 2018 - Nahid for building bondage among Muslim countries for global terrorism
October 14, 2018 - ‘Made in Bangladesh’ is our national pride: Jabbar
October 10, 2018 - Verdict in August 21 grenade attack case today
October 10, 2018 - No mercy for sabotage acts centering Aug 21 grenade attack verdict: Quader
October 10, 2018 - Dr Kamal, B Chowdhury’s great somersault for Tarique Zia: Inu
October 9, 2018 - No alternative to victory of AL: HT Imam
October 9, 2018 - PM donates Tk 50 lakh for Prof Mahbub’s treatment
October 9, 2018 - Digital Security Act to save innocents: Quader
October 9, 2018 - Information on education made available online: Nahid
October 9, 2018 - Govt approves National Agriculture Policy 2018
October 8, 2018 - Bangladesh clinch maiden SAFF U-18 Women’s Championship title
October 8, 2018 - nvestment will further rise: Muhith
October 8, 2018 - BNP needs to join polls to change state power: Quader
October 7, 2018 - Syed Waseque Md. Ali, Managing Director of First Security Islami Bank Limited, speaking at a view exchange meeting regarding modern technology-based remittance payment system as chief guest held at Rome in Italy recently. Md. Hamid Alam, Country Manager, Farid Ahmed Bhuiyan, Operations Manager, Rahat Jaman, Office Dean of First Security Islami Exchange, Italy S.R.L were also present.
October 7, 2018 - BD to be 26th largest economy by 2030, says envoy to USA
October 7, 2018 - BD received $1,127.36m remittance in Sept
October 7, 2018 - Business Climate Dialogue with EU: Bangladesh seeks GSP Plus benefit

Repatriation of Export Proceeds Through Online Payment Gateway Service Providers

In view of the growing role of the services provided by the Online Payment Gateway Service Providers (OPGSPs), it has been decided to allow the Authorized Dealers (ADs) to offer the facility of repatriation of remittances against small value service exports in non-physical form such as data entry/data process, off-shore IT service, business process outsourcing etc. through the OPGSPs, subject to compliance of the following instructions:

(a) ADs shall enter into standing arrangements with internationally recognized OPGSPs and maintain separate Nostro collection account for each OPGSP to repatriate the above mentioned service export related payments. Service exporters availing of this facility shall open notional accounts with the OPGSPs. It is to be ensured that no funds are retained in such accounts and all receipts should be automatically swept and pooled into the Nostro collection account maintained by the ADs.

(b) This facility shall only be available for service export in non-physical form of value not exceeding USD 500 (US Dollar five hundred).

(c) The following debits will only be permitted to the Nostro collection account opened and maintained under this arrangement:

i)        Repatriation of funds representing service export (as mentioned in the opening paragraph) proceeds to Bangladesh for payment to service exporters;

ii)       Payment of fee/commission to the OPGSP as per the predetermined rates/ frequency/arrangement; and

iii)     Charge back to the service recipient/importer where the service exporter has failed in discharging the obligations as per specifications.

(d) ADs shall repatriate the balances held in the Nostro collection account and arrange to credit the respective exporter’s account with a bank in Bangladesh on being confirmed that the export proceeds have been swept and pooled into the Nostro collection account from the exporter’s notional account.

(e) ADs shall satisfy themselves as to the bona fide of the transactions on examination of relevant documents and credit the amount, repatriated from the Nostro collection account, to the exporter’s account on receipt of Form-C duly filled in. However, ERQ account of the exporter may be credited up to the permissible limit of the total proceeds in accordance with the instructions laid in chapter 13, section IV of Guidelines for Foreign Exchange Transactions-2009, Vol-1 (GFET). ADs shall also ensure deduction of applicable taxes, if any and payment thereof.

(f) Besides reporting the transactions to Bangladesh Bank in monthly schedules/statements, ADs shall submit all the relevant information/documents relating to any transaction under this arrangement to the Bangladesh Bank, as and when advised to do so.

(g) Each Nostro collection account shall be subject to reconciliation and audit on a quarterly basis in terms of paragraph 7, chapter 4 of GFET.

(h) Resolution of all payment related complaints of exporters/service providers in Bangladesh shall remain the responsibility of the OPGSP concerned.

(i). ADs entering into arrangement(s) with any OPGSP(s) shall report to the Foreign Exchange Policy Department, Bangladesh Bank, Head Office, Dhaka  with necessary details .

02. As usual, ADs shall exercise due diligence in respect of the transactions with OPGSPs and comply with the foreign exchange regulations, AML/CFT regulations and any other relevant laws/regulations in force.

Please bring the contents of this circular to the notice of all concerned.

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