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The Bangladesh Bank (BB) has relaxed foreign exchange regulations for freelancers and individual service exporters, aiming to strengthen the country’s rapidly growing digital services sectors.
Under the new guidelines, freelancers can now receive payments using electronic proof—such as platform statements, emails, and other digital records—eliminating the need for traditional export documentation. The move reflects the evolving nature of global freelance work and digital trade.
To support small-value transactions: Inward remittances up to $20,000 can be received without formal declaration
Payments through Online Payment Gateway Service Providers (OPGSPs) are allowed up to $10,000 per transaction
Measures are in place to ensure timely repatriation of earnings.
The circular introduces dual-currency freelancer cards and expands access to digital payment channels, including Mobile Financial Service Providers and Payment Service Providers such as bKash and Nagad, making transactions faster and more convenient.
Freelancers in ICT sectors can now retain up to 50% of their earnings in foreign currency accounts under the Exporters’ Retention Quota (ERQ), while other service exporters can retain up to 30%—offering greater flexibility in managing international expenses.
Industry insiders view the move as timely and forward-looking, aligning regulations with the needs of the digital economy. By simplifying procedures and expanding formal payment channels, the initiative is expected to:Encourage formalisation of freelance earnings,Improve transparency in foreign exchange flows ,Increase remittance inflows.
Overall, the policy is set to enhance ease of doing business for freelancers and further integrate Bangladesh’s service exporters into the global digital marketplace, supporting the country’s transition toward a knowledge-based, digitally driven economy.