BB: ADs can repatriate inward remittances against small value service

Authorized Dealers (ADs) can now repatriate inward remittances against small value service exports in non-physical form including Information and Communication Technology (ICT) related services through Online Payment Gateway Service Providers (OPGSPs). “To widen the scope for repatriation of ICT related payments, it has been decided that ADs may provide facilities to credit inward remittances received in international card number or account against the services provided by individual developers or freelancers,” according to a circular issued by Bangladesh Bank on Tuesday, reports BSS. In this context, ADs shall issue to individual developers or freelancers international cards (termed as ‘Freelancer Card’) having duel currency units with features of being prepaid from abroad, the circular added.