Desk Report
Publish: 17 Jul 2022, 07:12 pm
Bangladesh Bank Logo || Photo: Collected
Bangladesh
Bank has allowed authorized dealers (ADs) to open interest-bearing non-resident
foreign currency deposit (NFCD) accounts in order to increase foreign currency
flow.
The
non-resident Bangladeshi nationals and persons of Bangladesh origin, including
those having dual nationality and ordinarily residing abroad, will be eligible
for opening such deposit account, said a circular of BB.
The
BB's Foreign Exchange Policy Department (FEPD) issued a circular on Sunday and
sent it to all ADs in foreign exchange in Bangladesh to effect the notification
immediately.
The
circular stated, “.....ADS have been permitted temporarily to raise deposits
under NFCD accounts without reference to the interest rate mentioned in the BB’s
foreign exchange guidelines.”
These
relaxations will also be applicable for NFCD accounts to be mentioned by
foreign nationals and companies/ firms registered or incorporated abroad,
banks, and other financial institutions, including institutional investors, and
100 per cent foreign-owned industrial units in the export processing zones and
Economic Zones in the country.
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