The New Nation - Internet Edition

UNB, Dhaka

The growing money exchange business is at stake as the Indian High Commission and some other foreign missions have introduced new rule.

According to sources, the Indian High Commission has introduced rule that Bangladeshi applicants for visa is to get at least US$ 150 equivalent to foreign currency endorsed by a commercial bank. Failing, application will not be accepted.

The High Commission has also asked the visa applicants to get the foreign exchange endorsed by the State Bank of India in Dhaka. The money exchange firms alleged that the decision of the Indian High Commission has rendered them useless. For, most of their clients are India bound travelers.

Although it was mentioned that endorsement from any commercial bank would be accepted, the real situation is different. The Indian visa office refuses to accept visa application without endorsement by the State Bank of India," said Mohammad Mostafa Khan, president of Money Changers' Association of Bangladesh (MCAB).

He also said some other foreign missions have also adopted similar system.