Staff Correspondent, bdnews24.com
Published: 2016-02-25 23:35:07 BdST
Bangladesh Bank ordered banks on Thursday to allow their international credit card holders to make online payment for goods and services up to the new limit.
The central bank fixed the previous cap at $100 in 2013.
In the new order, the central bank also included subscription fees for magazines and newspapers for such purchase.
Deputy Governor Naznin Sultana explained the ground for relaxing the restrictions to bdnews24.com: "Many tell us that some academic books cost more than $100, and so, they cannot buy those (because of the current ceiling). The demand in this sector has also risen.”
“Again, our foreign exchange reserves are quite satisfactory. e-commence is also expanding,” she said.
In line with the credit card limit fixed in 2014, Bangladeshis can spend $5,000 from their travel quota in SAARC countries.
The limit is $7,000 for other countries.
According to the central bank, Bangladesh has over 100,000 international credit card holders now.