The Bangladesh 2% cash incentive is a Government-backed scheme launched to provide a 2% bonus on money sent by Bangladeshis overseas.
How does the Bangladesh 2% bonus work?
If you are a Bangladeshi national sending money back home, the government will add 2% to your transfer. The scheme works similarly to Nigeria’s ‘Naira 4 Dollar scheme’ as its objective is to increase the volume of remittances into Bangladesh.
While Nigerian recipients get a ₦5 bonus for every US dollar sent, Bangladeshi recipients get a 2% bonus added to the total amount sent.
The 2% incentive is paid in Bangladeshi taka (BDT/৳/Tk ) and applies to transfers to Bangladeshi bank accounts.
Is there a limit on the receiving amount in order to get the 2% extra incentive?
No, there is no limit. Although, if the receiving amount is over Tk 500,000, additional documents may be required to claim the incentive.
Wondering how to transfer money to Bangladesh? Our guide on sending money to Bangladesh will help. Find out how to send money to Bangladeshi bank accounts, mobile phone top-ups and more.
Bangladeshi 2% incentive requirements
You also need to be a Bangladesh national employed abroad but not paid by a government agency or statutory body.
Your recipient must be a citizen and resident of Bangladesh.
For remittances of up to 500,000 BDT, the 2% bonus is added directly to the transfer.
For example, if you transfer 100,000 BDT, your recipient gets 2% of that amount, i.e. around 2,000 BDT as a bonus.
To receive the 2% incentive on payments over 500,000 BDT, your recipient will need to submit documentation before the bonus is released.
As well as transferring the money, make sure your recipient has:
- Their passport and a copy of your passport.
- Any one of the following
- A letter confirming their employment status.
- A resident permit
- A BMET (Bureau of Manpower Employment and Training) certificate
- A copy of their business or trade license (for business owners).
How Azimo can help you this Eid al-Fitr
We know that many of our customers transfer money to Bangladesh during Eid al-Fitr. With a 2% bonus on offer, there’s even more reason to send a gift to a loved one.
With two fee-free transfers, now’s the perfect time to transfer money to support friends and family. The first transfer comes with a special exchange rate, meaning you’ll get a great overall price on your transfer to Bangladesh.
How do you register for the taka incentive scheme?
The good news is that there’s no need to register for the ‘Bangladesh cash incentive’ offer.
For your loved ones to benefit from the scheme, all you need to do is send money to Bangladesh through an International Money Transfer Operator (IMTO) like Azimo.
Your recipient will need to have a bank account with a registered Deposit Money Bank (DMB).
Some of our partner banks include:
- BRAC Bank.
- Islami Bank Bangladesh.
- Bank Asia.
- Agrani Bank.
- Janata Bank.
- City Bank.
- Sonali Bank.
Get a taka bonus for your loved ones when you send money to Bangladesh. Register with Azimo and transfer money to Bangladesh to take advantage of the taka bonus incentive.