Bangladesh Bank (BB) has set a maximum fee of Tk300 for passport endorsements by money changers, aiming to regulate service charges for travellers and ensure transparency. This move is part of a broader effort to prevent overcharging and streamline the endorsement process for outgoing passengers. Under the existing guidelines for Foreign Exchange Transactions (GFET)-2018, licensed money changers can sell foreign currency notes, coins, and traveller's checks to outgoing Bangladeshi residents. Each transaction must be meticulously recorded in the traveller's passport and air ticket, verified with the seal and signature of the money changer's authorized personnel. To ensure transparency, the central bank has outlined several mandatory requirements for money changers, including displaying the endorsement fee prominently and providing a written receipt for every fee collected. Additionally, establishments must maintain proper records of all fees collected for auditing and regulatory purposes. The regulation, signed by Monoar Uddin Ahmed, Director of FEPD-2, clarifies that all other relevant instructions regarding foreign exchange transactions remain unchanged. This new regulation aims to protect travellers from arbitrary service charges during currency exchange.
