BB allows O, A-Level exam centres to make payments abroad

The Bangladesh Bank has introduced a new policy allowing authorised examination centres in Bangladesh to make payments abroad for international exams such as O-Level, A-Level, TOEFL, and SAT without requiring prior approval from the central bank.
In a circular issued on Sunday (April 21), the central bank instructed commercial banks to permit these exam centres to collect admission and exam-related fees in Bangladeshi taka for outward remittances. The directive specifies that the centres must be duly authorized by relevant foreign academic bodies or authorities.
Under the revised guidelines, commercial banks can now process remittances based on proper invoices and detailed statements, provided they include applicable taxes such as source tax and VAT. Additionally, banks are required to obtain declarations and undertakings from the exam centres before facilitating any remittance.
Previously, such transactions were subject to prior approval from the Bangladesh Bank. The updated rules now enable banks to directly remit payments abroad on behalf of examination centres conducting internationally recognised secondary and higher secondary level examinations.
A senior official from the Bangladesh Bank, speaking on condition of anonymity, stated that the move is part of ongoing financial reforms aimed at streamlining remittance procedures and reducing bureaucratic hurdles. This initiative is expected to facilitate smoother operations for exam centres and enhance convenience for students participating in global academic assessments.