Streamlined Student Payments: Bangladesh Bank Eases Rules for International Exam Fees
Bangladesh Bank has issued a new directive simplifying the remittance process for students' examination fees for international tests such as O-Level, A-Level, TOEFL, and SAT. Under the updated guideline, fees for these exams—conducted under recognized foreign academic bodies equivalent to secondary and higher secondary education—can now be remitted abroad through approved test centres without prior central bank approval.
Commercial banks received the circular on Tuesday, which was issued by Bangladesh Bank on Monday. According to the circular, “Authorized centres conducting O-Level, A-Level, TOEFL, SAT, and other recognized international examinations in Bangladesh may now collect fees directly from candidates and remit them abroad through legal banking channels.”
However, the directive specifies that to use this facility, examination centres must be accredited by the respective international testing authorities. Additionally, before processing any remittance, banks must collect a declaration and undertaking from the centres.
Previously, banks were required to obtain prior approval from Bangladesh Bank before sending such payments abroad. The new directive removes this requirement, allowing banks to remit examination fees for O-Level, A-Level (or AS Level), and similar assessments, as well as tests like TOEFL and SAT, without seeking further approval from the central bank.
A source from Bangladesh Bank stated that the move is part of ongoing reforms aimed at making remittance transactions more efficient and hassle-free.
