The Bangladesh government has introduced the Cash Incentive for Inward Wage Remittances.
This means that transfers to Bangladesh sent by Bangladeshi nationals who are working abroad are delivered to the recipient with a bonus of 2.5% of the value of the remittance.
Transfers of 500,000 BDTT or more
Recipients of 500,000 or more will be required to provide their bank with the following documents to receive the bonus under this scheme:
- a copy of the sender's passport
a valid appointment letter from the overseas employer or a certificate from the Bureau of Manpower, Employment and Training (BMET) for the sender
a valid trade or business licence which shows the sender's source of income, if the sender is in business
|No additional documents are required for transfers of less than 500,000 BDT.
In addition to the 2.5% bonus from the Bangladesh government, some banks may pay a further 2.5% to recipients, or offer a better rate which we pass on to the sender.