Business

Mercantile Bank signs refinancing participation deal with BB


Published : 25 May 2022 08:16 PM

Just a day after restricting all sorts of foreign travel of bank employees, Bangladesh Bank on May 23 announced that bankers can travel abroad for essential personal purposes at their own expense.

The relaxation of the rules comes amid backlash from bankers following the central bank's blanket restriction on foreign trips of employees of banks in Bangladesh.

The Bangladesh Bank slapped the curb days after the government barred government officials from travelling abroad at the state's expense to reduce the pressure on foreign exchange reserves and stabilise the exchange rate between the taka and US dollar and other major currencies.

The central bank earlier took measures to restrict non-essential imports, which went up in the face of rising prices and the Russia-Ukraine war and the Covid-19 pandemic.

In its notice on May 23, Bangladesh Bank said bankers will be able to fly beyond the border for treatment and to perform Hajj.

Foreign bankers working in banks here will be able to go to their homeland. Besides officials who work at the branches of international banks can visit banks' headquarters, added the central bank.

It also said bankers can also travel abroad to attend training, seminars, meetings, workshops and study tours organised and fully sponsored by foreign organisations.