"He has no barrier to play abroad. We have lifted the embargo on his NOC. It was a unanimous decision on behalf of the BCB's board of directors." Bangladesh Cricket Board President Nazmul Hassan was quoted as saying on ESPNCricinfo.
Shakib was banned for six months on July 7 and conveyed that he would not be granted NOCs to play in out-of-country events until December 31, 2015.
He was punished for "serious misbehaviour" with the Bangladesh coach Chandika Hathurusingha and an altercation with a spectator during an ODI against India in Mirpur.
But a possibly a change of heart on Tuesday prompted Hassan to lift the restriction within a couple of days following which Shakib will be available to play in the Big Bash League starting December 18.
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Hassan said Shakib's improvement in behaviour had led to the decision and the players' leadership qualities also hastened the act. "We are not against our players," Hassan said.
"However, there are times when situations demand strict measures. The ban and NOC embargo on Shakib was a message to everyone that we will not compromise with discipline.
The former captain is the nation's leading wicket-taker in Test history with 122 victims in 34 Tests, and only two players have scored more than his 2,278 runs.