DHAKA, April 22, 2025 (BSS) - The Bangladesh Bank (BB) has approved the 
payment of admission and examination-related fees in foreign currencies for 
studies in foreign academic institutions for those examinations which are 
held in local centres.

In a circular, the central bank said banks may allow authorised examination 
centres or operators to collect fees and examination-related expenses in 
local currency [Taka] for the Test of English as a Foreign Language (TOEFL), 
Scholastic Assessment Test (SAT), and secondary and higher secondary 
equivalent studies for outward remittances.

It, however, directed banks to ensure that examination centres are duly 
authorised by relevant authorities abroad. Banks must also conduct due 
diligence, said the central bank.

The Bangladesh Bank said the remittance requests must include detailed 
invoices, tax documentation, and declarations confirming the accuracy of 
information and the exclusion of foreign candidates.

In the event of misreporting or miscalculation, remitters will be held 
accountable and must repatriate funds if necessary, it added.

Such remittances must be processed through a designated bank branch with 
intimation to the central bank and may also be executed using international 
remittance cards.

The central bank also asked banks to maintain detailed electronic records and 
submit regular reports to the Bangladesh Bank.