The Bangladesh Investment Development Authority (BIDA) has introduced a fully digital outward remittance approval service through its One Stop Service (OSS) online portal, marking a significant step toward streamlined investor facilitation and improved ease of doing business in Bangladesh. BIDA launches OSS service, which could revolutionize the way business is conducted in the country.  

Previously available only through offline channels, the Outward Remittance Repatriation Approval which covers approvals related to royalty, technical know‑how, technical assistance, and franchise fee payments can now be processed entirely online. The new system enables investors to submit applications digitally, make payments, track progress in real time, and receive approvals within seven working days, in line with the service level agreement (SLA) established by BIDA. 

Enhanced Efficiency and Transparency

According to BIDA’s Executive Chairman Mr. Ashik Chowdhury, the launch of the digital service “closes another critical gap” in investor services by offering a fully electronic and environmentally friendly process that enhances transparency, efficiency, and accountability for both local and foreign investors operating in Bangladesh.  

The digital approval service is part of BIDA’s broader digital transformation agenda under the BIDA Act 2016, the Foreign Exchange Regulation Act 1947 (amended 2015), and Bangladesh Bank’s Foreign Exchange Guidelines 2018, reinforcing the authority’s commitment to global best practices for investment facilitation. 

Integration with BanglaBiz and OSS Expansion

In partnership with the Japan International Cooperation Agency (JICA), BIDA has also launched BanglaBiz, a unified digital platform that currently integrates OSS portals from BIDA and other investment promotion agencies to simplify access to investor services under one interface. Once more than 25 additional services are integrated into BanglaBiz by the end of this month, investors can expect even faster and more seamless processes. 

With the addition of the outward remittance approval service, BIDA’s OSS now hosts 142 digital investor services in total reflecting a continued effort to modernize and digitize business processes in Bangladesh and improve overall investor experience.