Bangladesh Bank has instructed 27 banks to explain why their credit card holders have been able to spend more dollars abroad than the limit. Central bank spokesman Md Serajul Islam said on Sunday a recent special inspection found 71 credit cards were used to spend more than the foreign currency limit. The Foreign Exchange Regulation Act stipulates that a citizen can spend foreign currencies worth a maximum of $12,000 a year. Bankers said banks fix the ceiling of foreign currency using via credit card, but the 27 banks did not follow the rule for the 71 customers. Bangladesh Bank had previously fined National Bank Tk 5.5 million for allowing its customers to spend more dollars than the limit against 11 credit cards.

Source: bd News24 September 05, 2022 02:42 UTC