Bangladesh Bank Sets Fee for Foreign Currency Endorsement on Passports

In response to complaints about excessive charges for passport foreign currency endorsements, Bangladesh Bank has issued a new directive. According to the central bank’s decision, licensed money changers can now charge a maximum of 300 Taka for passport endorsements, regardless of the amount of foreign currency involved. No additional charges will be allowed.

Previously, there was no specified cap on the endorsement fee. Under the 2018 Guidelines for Foreign Exchange Transactions (GFT), money changers were allowed to endorse passports but there were no clear instructions on how much they could charge. As a result, passengers had reported being charged 500 Taka, 1,000 Taka, or even more for this service.
 

Under the new rules, money changers are also required to prominently display the endorsement fee at their business premises and provide a written receipt to customers to ensure transparency in financial transactions. Furthermore, they must maintain separate and accurate records of all endorsement fees collected.

The central bank emphasized that these new regulations must be strictly followed by all licensed money changers, and other existing guidelines remain unchanged.