Corona
Money changer gets discount for license renewal
Money changer gets discount for license renewal in Corona
Money changers approved in the country will have the opportunity to renew their licenses even if the target is not met due to the decline in business due to the epidemic coronavirus. This opportunity will be available only for the year 2020.
A circular in this regard has been issued by the Foreign Exchange Policy Department of Bangladesh Bank.
According to the rules of Bangladesh Bank, the foreign exchange trading of money changers has a minimum target every year. At present their target is ৫ 5 million a year. Only when this target is met do money changers get a chance to renew their licenses.
It is known that the source of foreign exchange for money changers is passengers and tourists from abroad. But due to the corona, passenger and tourist hopes from abroad have almost stopped for the past few months. Again no one is going out of the country without much need. This has reduced the business of money changers.
In this regard, it is said in the circular of Bangladesh Bank that the approved money changers get the opportunity to renew their licenses subject to meeting the minimum target of annual foreign exchange trading. But for some reason, considering the current state of the business, they will have the opportunity to renew the license even if the target is not met. Only in 2020 will they get this opportunity
As per Bangladesh Bank, there are now 235 money changers approved for foreign exchange in the country.