The Bangladesh Bank has issued a new directive permitting payments in US dollars for dues related to local development projects. According to a circular released on Thursday (May 29), project authorities can now make payments in dollars against bid bonds, performance bonds, and guarantees, subject to necessary conditions and through authorized dealer (AD) banks.
However, if a project is canceled or suspended, the outstanding payments must be settled in local currency—Bangladeshi Taka.
The circular also states that AD banks must verify tender or bidding documents before processing payments through the Real-Time Gross Settlement (RTGS) system. In particular, for joint ventures or cooperative projects involving both local and foreign partners, payments to foreign parties must be made in dollars.
On the same day, the Payment Systems Department (PSD) of Bangladesh Bank issued a separate notice instructing banks and financial institutions to ensure uninterrupted digital transaction services during the upcoming Eid holidays.
The notice emphasized maintaining smooth operation of ATMs, Point of Sale (POS) terminals, QR code payments, internet banking, online payment gateways, and mobile financial services (MFS).
Banks were also directed to ensure adequate cash supply at ATM booths, resolve any technical glitches promptly, maintain security, and conduct regular inspections. Additionally, for POS and QR code services, institutions were instructed to raise awareness among merchants and customers to prevent fraud and ensure service continuity.
