Bangladesh Bank has doubled the limit on foreign currency remittances for medical treatment abroad from $15,000 to $30,000, aiming to simplify overseas healthcare payments for residents.
The regulatory changes were announced in a circular issued by the central bank’s Foreign Exchange Policy Department-2 on Monday.
Under the revised instructions, authorised dealer (AD) banks are permitted to release up to $30,000 or its equivalent in foreign currency for medical treatment abroad without obtaining prior approval from Bangladesh Bank.
Previously, the remittance limit stood at $15,000.
The move is expected to provide enhanced flexibility to patients and their families seeking treatment overseas, particularly those requiring substantial funds for hospital expenses and related medical services.
In another significant relaxation, the central bank has allowed AD banks to facilitate foreign exchange remittances for secondary and higher secondary equivalent education abroad without prior central bank approval.
Previously, Bangladesh Bank permission was mandatory for releasing foreign currency for school-level education abroad, creating an additional regulatory step for families sending children overseas for secondary studies.
However, the circular mandates that banks must verify the availability of free education before releasing funds under this provision.
Additionally, Bangladesh Bank has expanded the scope of educational remittances to include regular academic studies pursued via correspondence courses.
Under the updated rules, AD banks can release foreign exchange without prior approval for regular academic programmes conducted through correspondence courses, in addition to certification and professional courses already permitted under existing regulations.
These updates amend relevant provisions of FE Circular No. 40, originally issued on September 30, 2026.
Alongside outward remittance relaxations, Bangladesh Bank has introduced a stricter requirement for depositing foreign currency into Resident Foreign Currency Deposit (RFCD) accounts.
According to the circular, foreign currency brought into Bangladesh by resident Bangladeshis will be eligible for credit to RFCD accounts only if it has been declared to the Customs Authority through Form FMJ.
The central bank stated that this decision was taken considering the enhancement and expansion of individual outward remittance facilities for private travel, medical treatment, overseas education, and other permitted purposes.
The revised directives apply to authorised foreign exchange dealers across the country, whilst all other existing foreign exchange regulations remain unchanged.
The measures form part of Bangladesh Bank’s ongoing efforts to offer greater flexibility in outward remittances and facilitate legitimate current-account transactions under the nation’s current-account convertibility framework.
Under this framework, authorised dealer banks are permitted to release foreign exchange for current-account transactions without prior central bank approval, either without limits or within limits prescribed by Bangladesh Bank.
