Dhaka, Oct. 7 -- In a move to enhance the international competitiveness of small and medium enterprises (SMEs), the Bangladesh Bank (BB) has allowed registered SMEs to remit up to $3,000 per year for legitimate current expenses abroad.
The initiative, outlined in a recent BB circular, aims to facilitate business operations and capacity development for a sector that contributes significantly to employment generation and industrial diversification in Bangladesh. According to the circular, SMEs can utilize this foreign exchange facility through traditional banking channels or via refillable international payment cards-to be branded as "SME Cards"-issued by authorised dealer (AD) banks.
Each card may be refilled with a maximum limit of $600 p...