Bangladesh Bank has granted permission to local banks to use international card platforms for legally sending remittances abroad. This development will make it easier and faster to send money for specific purposes such as education, medical treatment, visa fees, and registration for training programs.
In a circular issued on Sunday (May 4), the central bank stated that banks are now allowed to utilize global card networks such as Visa, Mastercard, and UnionPay to send funds on behalf of their customers. Previously, this service was limited to international cards that were issued in the sender's own name. The central bank explained that this initiative is intended to expand legal remittance channels and minimize the hassle for customers.
