BB asks banks to remit Saudi riyal for pvt pilgrims

Dhaka,  Thu,  24 August 2017
Published : 14 Jun 2017, 22:06:40

BB asks banks to remit Saudi riyal for pvt pilgrims

FE Report

The central bank has asked commercial banks to remit Saudi Riyal 6,830 for house rent, food and other expenses of each pilgrim, who will perform Hajj through private management, officials said.

The Bangladesh Bank (BB) issued Wednesday a circular in this connection and asked the commercial banks for taking necessary measures in this regard.

The government has already allowed remitting the amount of Saudi currency for each pilgrim to meet their expenses in the forthcoming holy Hajj.

"We've issued the circular at the advice of the Ministry of Religious Affairs," a BB senior official noted.

He also said the banks were allowed to remit the amount of Saudi currency to each pilgrim in accordance with the existing financial rules and regulations.

The Saudi currency will be remitted using (IBAN) International Bank Account Number of each Hajj agency's bank accounts, according to the circular.

The IBAN is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.
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