Bangladeshi Students Abroad Allowed to Use International Cards for Education Payments
Bangladesh Bank has authorized the use of international cards to streamline payment processes for Bangladeshi students studying abroad. A circular issued on Monday allows Authorized Dealer (AD) banks to issue debit, prepaid, or credit cards specifically for tuition fees and other education-related expenses.
The central bank implemented this policy change in response to growing demands from foreign universities and online admission platforms that require payments via international cards. Under the new guidelines, these transactions will be considered separately and will not be deducted from standard travel quotas or other foreign exchange entitlements.
Cards can be issued directly in the name of the student or the individual financing their education. Authorized banks must complete all necessary regulatory formalities and ensure the cards are used exclusively for approved educational purposes within designated timeframes.
Additionally, banks are required to maintain proper transaction records and report all activities to Bangladesh Bank using prescribed purpose codes.
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