Bangladesh Bank Allows SMEs to Make Foreign Payments Up to $3,000 Annually
Bangladesh Bank has eased foreign payment rules for small and medium enterprises (SMEs), permitting them to remit up to $3,000 per year for legitimate current expenses abroad. The central bank announced the new guidelines in a circular issued on October 5.
Under the new rules, SMEs can make payments through traditional banking channels or via international cards. To access the facility, enterprises must be registered with the SME Foundation.
Banks are now authorized to issue refillable “SME Cards” to a nominated official of each company. Each card can initially be loaded with up to $600 to cover online payments. However, the combined limit for card usage and direct remittances remains $3,000 annually per SME.
Bangladesh Bank emphasized that outward remittances for royalties, technical fees, or franchise payments are not included under this authorization and will continue to follow BIDA guidelines. Authorized dealer banks must perform due diligence, ensure KYC compliance, and deduct applicable taxes and levies.
Business experts say the move will simplify overseas payments for SMEs, reduce procedural hurdles, and encourage greater participation in cross-border trade and services.
