Bangladesh Bank has doubled the annual licence renewal fee for money changers, raising it to Tk 10,000 from Tk 5,000.

The central bank issued a circular in this regard saying that earlier licensed money changers were required to pay Tk 5,000 as a non-refundable renewal fee each year.

According to the latest instruction, the revised fee will come into effect from January 15 this year.

Other terms and conditions related to the renewal of money changers’ licences will remain unchanged.

The central bank has instructed authorities concerned to bring the contents of the circular to the notice of all relevant stakeholders.

Money changers play a key role in handling retail foreign exchange transactions, particularly for travellers and remittance recipients, and are regulated by Bangladesh Bank under the Foreign Exchange Regulation framework.