B Mirror Report: Bangladesh Bank has introduced a new facility allowing registered tour operators to sell overseas travel packages and collect payments from Bangladeshi travellers in taka, easing the process of managing foreign currency for outbound travel.

Under the new arrangement, members of the Tour Operators Association of Bangladesh (TOAB) can collect the package price in taka from travellers and remit the equivalent amount in foreign currency through banks directly to overseas service providers.

The central bank issued a circular on Sunday outlining the new guidelines.

The facility will apply to TOAB-member tour operators that have valid agreements or business arrangements with foreign tour operators, hotels or destination management companies. Authorised dealer (AD) banks will be allowed to remit foreign currency for genuine overseas travel services, including accommodation and transportation.

Under the guidelines, up to US$3,000 per traveller per calendar year can be remitted outside the regular annual travel quota. Tour operators must maintain complete transaction records against each traveller’s passport number and obtain a written declaration confirming that the traveller has not exceeded the annual limit through another tour operator.

For packages costing more than US$3,000, payment for the package must be collected in foreign currency through an international card. AD banks will be able to provide acquiring services for such transactions.

Before remitting foreign currency, banks must verify relevant documents, including invoices, agreements, detailed itineraries, passenger lists and proof that payment was collected in taka. Details of the remittance must also be submitted to Bangladesh Bank within seven days.

Tourism industry operators have welcomed the move, saying the facility will make overseas travel payments easier for customers and help expand Bangladesh’s outbound tourism sector. They also believe it will make tour operating businesses more streamlined and institutionalised.