BB allows forex transactions for IGW operators

Bangladesh Bank (BB) has taken a decision to allow the International Gateway (IGW) operators to make their transactions for international calls by opening foreign currency accounts.

Bangladesh Telecommunication Regulatory Commission (BTRC) issues operator license to IGW operators under Bangladesh Telecommunication Regulation Act, 2001 to handle international calls in accordance with the International Long Distance Telecommunications Services (ILDTS) Policy, 2010, BSS reports.

“In doing so, IGW operators receive or pay in foreign currency against international incoming or outgoing calls,” according to a BB circular issued here today.

To facilitate the transactions, BB said, it has now decided that the authorized dealers (ADs) may open and maintain foreign currency account in the name of IGW operators having valid operator licence issued by BTRC.

For transactions through the accounts, the ADs should follow the trams and conditions which include the foreign currencies received only from international carrier for international incoming calls may be credited in the account, balances of these accounts may be used to pay to international carrier for international outgoing calls and to IGW operator switch or other IGW Operators for international incoming calls against invoices, balances of these accounts are freely encashable to taka and ADs shall ensure deduction of applicable VAT and taxes and deposit of the same to the government treasury.