Credit cards: IT firms cleared to spend up to $40,000 per year

Bangla Tribune Report
Published : 19:59, Jan 13, 2020 | Updated : 20:04, Jan 13, 2020

A general view of a IT firm`s office in Dhaka Facebook/KITC Ltd.Bangladesh Bank (BB) has increased the remit limit for Information Technology (IT) or software firms to $40,000 from existing $30,000 in a calendar year.
“Authorized Dealers (ADs) are allowed to remit up to $30,000, with international card facility within the limit, on behalf of IT or Software firms, who are members of BASIS, for payments abroad to meet their bona-fide business expenses in a calendar year. It has been decided to enhance the limit to $40,000 in a calendar year from $30, 000,” said a central bank circular issued on Monday (Jan 13).
Within the limit of $40,000, international cards may be issuable for $8,000 instead of $6,000 which may be refilled subject to availability of the limit and observance of specified formalities, reads the circular.
The yearly entitlement will be usable by IT or software firms for meeting bona-fide current needs but without limiting to digital marketing expenses, it added.