Bangladeshi nationals residing abroad. Bangladeshi nationals ordinarily resident in Bangladesh. Foreign nationals residing abroad or in Bangladesh. Foreign firms registered abroad and operating in Bangladesh or abroad. Foreign missions and their expatriate employees.

Non-resident Foreign Currency Deposit Account (NFCD)

NFCD accounts are interest bearing time deposit accounts. Accounts may be opened for 1, 3, 6 months and 1 year term. Interest rates on NFCD accounts are determined after a careful assessment of interest rates on deposit accounts in the international market. The rates we offer are usually higher than the international market.

Resident Foreign Currency Deposit Accounts (RFCD)

Persons ordinarily resident in Bangladesh may open and maintain RFCD accounts with foreign exchange brought in at the time of their return from travel abroad. Any amount brought in with declaration to Customs authorities in form FMJ and up to US Dollar 5000 brought in without any declaration can be deposited into such accounts.

Foreign exchange through inward remittance from abroad and outward remittances may be freely carried out into and from these accounts. Foreign exchange earned through business done or services rendered in Bangladesh, however, cannot be deposited into these accounts.

Bangladeshi nationals residing abroad may appoint nominees to carry out transactions for family maintenance and other purposes whilst they are staying abroad.

Documentation required to open a private foreign currency account

Application form, Nomination if any, Signature Card duly filled in and signed.
Photocopy of first 4 pages of passport/ Photocopy of any other ID.
Proof of employment / earning abroad (not required for RFCD accounts.)
Two passport size Photographs of the Nominee duly attested by Account Holder.

Documentation requirement for non-Bangladeshi applicants vary according to type of accounts. Our branches will be pleased to assist you in this regard when you wish to open an account.