NRB Banking » Foreign Currency Account | |
Account opened and maintained by authorized dealer branches in Foreign Currency without prior approval of Bangladesh Bank is called Foreign Currency Accounts. | |
Who can open? | |
Bangladeshi nationals working or earning abroad including self-employed Bangladeshi immigrants proceeding abroad on employment may open F.C. Account even without initial deposit. | |
Foreign nationals residing abroad or in Bangladesh and also Foreign firms registered abroad and operating in Bangladesh or abroad. | |
Foreign missions and their expatriate employees. | |
Bangladeshi nationals working with the Foreign/ International organizations operating in Bangladesh provided their salary is paid in Foreign Currency or their consultancy fees/honoraria received in Foreign Currency. | |
Diplomatic Bonded Warehouse (duty free shops) licensed by the custom authorities. | |
Local and Joint Venture contracting firms employed to execute projects by foreign donors/international donor agencies as per relevant contract which will be closed as soon as the projects are concluded. | |
Currencies: | |
Foreign Currency (F.C.) Account may be opened in the following foreign currencies: | |
U.S. Dollar (USD) | |
Great Britain Pound Sterling (GBP) | |
Euro | |
Japanese Yen. (JPY). | |
Documents required for opening F.C. Account: | |
Prescribed Account Opening Form | |
2(Two) Passport size photographs | |
Authorised Specimen Signature Card | |
Proof of employment or other related documents. | |
In case of nominee additional 2 copies of passport size photograph of the nominee | |
Photo copies of Passport or other related documents. | |
Mode of Deposits: | |
The Foreign Currency Accounts may be credited in the following ways: | |
Cash Foreign Currency brought in by the depositor. | |
Travellers Cheques. | |
Cheques or Drafts. | |
Money Order Receipt | |
By Electronic Fund Transfer. | |
Interests: | |
The ADs maintaining foreign currency accounts can pay interest of F.C. Accounts, if the accounts are maintained in the form of Term Deposits for a minimum period of 90 days. Interest rates are comparable with the rates available on similar accounts maintained abroad. | |
Retention of Foreign Currency in Accounts; | |
Bangladeshi citizens and other persons residing in Bangladesh or abroad are required to self-declare such F.C. to an AD within one month from the date of acquisition by them of such F.C. | |
This regulation is exempted for the followings: | |
Foreign diplomats, nationals, missions, embassies and expatriate employees of foreign business houses, contractors or consultants who are receiving their salaries partly or entirely in foreign currency abroad. | |
Portion of repatriated export proceeds kept in Retention Quota Accounts. | |
Foreign Exchange brought in at the time of return can be credited to RFC account. | |
And upto US$ 5,000/- brought in undeclared at the time of return from abroad can be retained at hand. | |
Use of F.C. account balance: | |
The F.C. can be used for payments for the purpose mentioned while opening the account. | |
Funds may be utilized by the account holders for import of commodities as per instruction of Bangladesh Bank & CCI&E. | |
Funds may be brought back to the country of the Account Holder living abroad. Fund may be used for traveling, payments of credit card bills, education expenses and treatment expenses. | |
Fund may be converted to local currency by the Account Holder or Nominee. |
Saturday, May 19, 2018
Foreign Currency Account of Agrani Bank
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment