Foreign Currency Accounts

 


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April 27, 2024 05:15:35 pm

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Foreign Currency Accounts

 Bangladesh Bank has authorized the banks to maintain different types of foreign currency accounts and convertible taka accounts. The followings are the regulations laid down by Bangladesh Bank in respect of opening and maintaining these accounts in Authorized Dealer branches:

Features:

  • This is a savings type private foreign currency denominated account.
  • Account can be opened without initial deposit.
  • Account holder or his/her nominee can operate this account.

 Eligibility:

Those who are Bangladesh nationals residing abroad, Bangladesh nationals getting salary in foreign currency in Bangladesh and foreign nationals residing abroad or in Bangladesh, foreign missions and their expatriate employees are eligible to open this savings type Foreign Currency account. This type of account can also be opened in the name of organization duly registered abroad.

 Requirements for opening FC Account:

  • Two copies of recent passport size photograph.
  • Photocopy of passport.
  • Photocopy of work permit.
  • Salary certificate or employer’s certificate.
  • Letter of Authority for nominee.
  • Other related documents required for opening this type of account.

Facilities:

  • Deposited foreign currency can be encashed in BDT.
  • Deposited foreign currency can be sent abroad through bank.
  • If the balance of this account is deposited as term type, applicable interest can be earned on the same.
  • A nominee/authorized person will be selected by account holder for transaction.
  • Nominee can receive local currency (BDT) against any foreign currency.

 

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