Via the Bangladesh Bank online payment service, the exporters will be able to receive their overseas payments through the OPGSPs such as Paypal, Moneybookers, Best Payment Gateway and Virtual Pay online platforms. The online payment capability will be available only for service export in non-physical form which does not exceed USD 500. Therefore, the authorised dealers (ADs) will be able to offer the facility of repatriation of remittances against small value service exports in non-physical form such as data entry, data process, off-shore IT service, business process outsourcing through the OPGSPs.
The ADs, will have to enter into standing arrangements with internationally recognised OPGSPs and maintain a separate Nostro collection account for each OPGSP to repatriate the service export-related payments. The ADs will repatriate the balances held in the Nostro collection accounts and arrange to credit the respective exporters account with a bank in Bangladesh. The ADs will have to comply with the foreign exchange regulations, anti-money laundering or combating of terrorism financing regulations and any other relevant laws and regulations in force.
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