The Bangladesh Bank on Thursday issued a consolidated circular, introducing a unified regulatory framework for governing outward remittances related to transportation services.
The new directive aims to streamline foreign exchange operations, enhance compliance clarity, and reduce procedural fragmentation across multiple earlier instructions.
According to the circular, foreign exchange transactions for outward remittances continue to be governed under the Foreign Exchange Regulation (FER) Act, 1947, along with relevant subsequent circulars.
In a move toward regulatory simplification, the central bank has compiled existing instructions relating to transportation-related foreign exchange transactions into a single consolidated document, incorporating necessary modifications for operational ease.
The regulator stated that the latest circular would remain valid for a period of one year from the date of issuance.
Any subsequent instructions issued during this period will be interpreted in conjunction with the present framework, it said.
The consolidated guidelines cover a wide range of transportation-related foreign exchange activities, including issuance of tickets and collection of freight charges for international travel and transport services, foreign exchange operations involving foreign airlines and shipping companies, and transactions undertaken by national entities such as the Bangladesh Shipping Corporation and Biman Bangladesh Airlines.
The circular also provides specific provisions for private sector operators, including shipping companies, airlines, courier services, freight forwarders.
In addition, it outlines the procedures for maintaining and operating foreign currency accounts by shipping companies, airlines, and freight forwarding agencies, including accounts held in the names of Bangladeshi transport operators engaged in international services.
Furthermore, the circular introduces updated guidelines for tour operators engaged in foreign exchange transactions related to outbound travel services, aiming to ensure greater transparency and regulatory alignment in an expanding service sector.
Meanwhile, the BB has made a 14-week foundation training programme mandatory for all newly recruited officials of scheduled banks in a move aimed at ensuring a uniform minimum standard of professional competency across the banking sector.
The central bank issued the directive, stating that the initiative is intended to build a technically skilled, ethical and service-oriented workforce capable of meeting the challenges of a competitive and technology-driven financial environment.
According to the circular, the banking sector remains the main pillar of the country's economic stability and inclusive growth.
In this context, the central bank stressed that developing qualified human resources has become essential for sustaining efficiency and resilience in the financial system.
The directive applies to all newly recruited officials, including Management Trainee Officers (MTOs), Probationary Officers, Senior Officers and Officers, irrespective of designation titles used by banks.
Officials promoted to equivalent positions who have not previously completed foundation training will also fall under the requirement.
Bangladesh Bank said successful completion of the training programme will be mandatory before confirmation of service.
However, banks may adjust the duration and structure of the training for officials working in specialised non-core departments such as Information Technology (IT) and Human Resources (HR), depending on operational needs.
Under the new guidelines, the training programme must run for at least 14 weeks, comprising a minimum of eight weeks of theoretical instruction and six weeks of practical training.
The central bank directed banks to move beyond conventional lecture-based methods and adopt participatory and assessment-based approaches.
These include case studies, group discussions, debates, leadership development exercises, quizzes and regular evaluations aimed at improving practical understanding and professional competence.
The curriculum has been divided into six broad areas covering economics and policy, accounting and financial analysis, banking operations, technology and fintech, legal and ethical frameworks, and professional skills.
The economics and policy component includes macroeconomics, national income estimation and monetary tools such as Repo, Reverse Repo, Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
Banking operations will include credit management, foreign trade finance, treasury operations, SME and agricultural finance, and Shariah-based banking.
The technology and fintech section will focus on digital banking, Mobile Financial Services (MFS), emerging financial technologies and cyber security, while the legal and ethical module will cover major laws including the Bank Company Act, 1991, the Money Laundering Prevention Act, 2012 and the Negotiable Instruments Act, 1881.
In addition, the programme will include professional development training on customer service, emotional intelligence, and office etiquette and conflict management.
As part of the practical component, trainees will be required to participate in a minimum five-day rural field stay to observe SME and agricultural projects and gain firsthand exposure to financial inclusion initiatives.
They will also perform shadow duties at Agent Banking outlets or sub-branches.
The guidelines further require training institutes to establish "Mock Branches" using banks' actual Core Banking Solutions (CBS) so trainees can practice banking transactions in a risk-free environment.
Issued under Section 45 of the Bank Company Act, 1991, the directive sets the minimum standard for foundation training.
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