Showing posts with label Non-Resident Bangladeshi (NRB) Banking. Show all posts
Showing posts with label Non-Resident Bangladeshi (NRB) Banking. Show all posts

Saturday, May 19, 2018

May 19, 2018

NR Investors Taka Account of Agrani Bank

NRB Banking » NR Investors Taka Account
With a view to helping Wage Earners invest in shares and securities in Bangladesh “Nonresident Investor’s Taka (NIT) Account” has been introduced. A Wage Earner can open a NIT Account with any AD Branch of Agrani Bank Limited under the following conditions:
Dividends or sale proceeds of shares or securities may be deposited in the NIT Account
Account Holder can repatriate the available balance amount of the account in foreign currency back to any country of his/her choice
Dividend and capital gains deposited in the account are exempted from Income Tax
The account can be operated by nominee (s).
May 19, 2018

Non Resident Foreign Currency Deposit of Agrani Bank

NRB Banking » Non Resident Foreign Currency Deposit
All nonresident Bangladesh nationals and persons of Bangladesh origin including those having dual nationality and ordinarily residing abroad may maintain interest bearing Time Deposit Accounts named “Nonresident Foreign Currency Deposit (NFCD) Accounts” with any Authorized Dealer (AD) Branch of Agrani Bank.

Bangladesh nationals serving with Embassies/High Commissions of Bangladesh in Foreign countries as also the officers/staff of the Government/Semi Government Departments, nationalized banks and employees of corporate bodies posted abroad or deputed with International and Regional agencies like IMF, World Bank, IDB, ADB etc. during their assignments abroad may open such accounts with Agrani Bank Limited. Crew members of the Bangladeshi shipping companies are not entitled to open such accounts, but shore staff posted abroad may open such accounts. Accounts may also be opened with funds transferred from existing foreign currency accounts maintain by the wage earners with any AD Branch of Agrani Bank.

The accounts are in the nature of Term Deposits maturing after one month, three months, six months and one year. The accounts may be maintained in US Dollar,Euro, Pound Sterling or Japanese Yen: initially with minimum amount of US$1000 or Pound Sterling 500 or equivalent. Account may be opened against remittances in other convertible currencies after conversion of those into US Dollar, Euro, Pound Sterling or Japanese Yen.

These Accounts may be maintained as long as the Account Holders desire. Eligible persons are also allowed to open such Accounts within six months of their return to Bangladesh.

Eligible Bangladesh nationals may send applications along with a set of specimen signatures of the opener of the account to any AD Branch of Agrani Bank. in Bangladesh duly verified by any Bangladesh Mission abroad, or a reputable Bank or any other person known to the AD Branch of Agrani Bank in Bangladesh. The Application Forms may be procured from Bangladesh Missions Abroad and from any AD Branch of Agrani Bank. in Bangladesh. No set of specimen signatures will be required to be enclosed with the application form if the application is submitted to an AD with whom the applicant has already been holding a Foreign Currency Account. In such a case reference to the respective FC account number will serve as self-introduction and the account-opening branch will verify the signature with the specimen signature maintained for the FC account.

The concerned AD Branch of Agrani Bank will pay interest on deposits into the accounts at the Euro Currency Deposit rates. In case of premature repayments, the interest amount will be forfeited to the depositing AD Branch. The interest on deposits into this account is exempt from the tax payable under Income Tax Act.

The Account Holder can freely repatriate the balance and the interest accrued thereon in foreign exchange to the country of his residence or anywhere he chooses and may at his option, convert the balance into local Taka at the prevailing exchange rate.

Foreign nationals and companies/ firms registered and/or incorporated abroad, banks, other financial institutions, including institutional investors and 100% foreign owned industrial units in the Export Processing Zones in Bangladesh, are also allowed to open and maintain NFCD accounts with the ADs. The minimum amount of time deposits in such cases should be US$ 25,000 or its equivalent in Pound Sterling, Euro or Japanese Yen. Other terms and conditions in respect of these account-holders will be the same as those mentioned above for NFCD accounts of non-resident Bangladesh nationals.

For further information, please contact: Deputy General Manager
Agrani Bank Limited
Foreign Currency Management Division
Head Office
Tel: (+8802) 9570640
Fax: (+8802) 956 3662
May 19, 2018

Foreign Currency Account of Agrani Bank

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.
Foreign Currency (F.C.) Account may be opened in the following foreign currencies:
U.S. Dollar (USD)
Great Britain Pound Sterling (GBP)
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.
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.
May 19, 2018

Non-Resident Bangladeshi (NRB) Banking by AB Bank


Non-Resident Bangladeshi (NRB) Banking

Facilities offered to NRBs

Opening of Foreign Currency A/C: We open Foreign Currency Account in USD/GBP/EUR/JPY for NRBs. Foreign Currency can be remitted by the Nationals of Bangladesh living Abroad earned by them as wage earners or from other sources. The deposit amount can also be used for remittance to other countries as per their requirement. Nominee of Account holder can also able to operate this Account.
NFCD: We issued Foreign Currency Fixed Term Deposit in USD/GBP/EUR with different tenure. Interest is paid in respective Foreign Currency. Rates of Interest are published in our daily Exchange Rate.

Wage Earners Development Bond: These Bonds can be issued from the balance of the FC account with tenure for five years. Rate of interest is 12% p.a. in BDT.

USD Premium Bond: These Bonds can be issued from the balance of the FC account with a tenure for Three years. Rate of interest is 7.5% p.a. in BDT.

USD Investment Bond: These Bonds can be issued from the balance of the FC account with a tenure for Three years. Rate of interest is 6.5% p.a. in USD.

In addition to the above, we also have Drawing Arrangements with 20 (Twenty) Exchange/Money Transfer Remittance Houses all over the globe to facilitate fast, reliable and hassle-free inward remittance to the expatriate Bangladeshis around the world. We also have special arrangements to credit Beneficiary’s account maintained with us on the same day through our extensive real time on-line network.

List of Exchange / Money Transfer Remittance Houses are as follows:

Foreign Remittance through Exchange House
For Inward Remittance, AB Bank established extensive drawing arrangement network with Banks and Exchange Companies located in the important countries of the world.