NON-RESIDENT FOREIGN CURRENCY ACCOUNT (NFCD)


»  Who are Eligible:
(a) Bangladeshis residing/working abroad
(b) Bangladeshis having dual nationality residing abroad
(c) Bangladesh nationals serving with missions of Bangladesh in foreign countries
(d) Officers/staff of the government/semi-government organizations /nationalized banks and employees of body corporate posted abroad or       deputed with international and regional agencies against foreign currency remitted through banking channel or brought in cash.
»  Initial deposit: Generally USD1000 or GBP500 or equivalent. For the Foreign nationals, companies/firms registered and or incorporated abroad,     other financial institutions including institutional investors abroad and Type-A units in EPZ USD 25,000 or equivalent.
»  Account Nature: As term deposits maturing after 1/3/6/12 months, can be maintained in USD, GBP, Euro or Japanese Yen.
»  What to deposit: Remittances sent from abroad through banking channel, fund sent from private FC accounts, proceeds of convertible foreign     exchange viz. currency notes, TC, drafts etc. brought into Bangladesh by the account holders while on visit to Bangladesh may be deposited to     such accounts.
»  Deposit balance may be used: NFCD may be sent abroad through banking channel, encash to Bangladesh Taka for local disbursements or     currency notes, TCs & cards while proceeding abroad.
»  Interest: At the Eurocurrency deposit rates, interest is exempted from the tax payable. In case of premature repayments, the principal can be     withdrawn while interest amount will be forfeited to the depositing AD.
»  A/C Opening Requirements: 2 copies recent PP size Photograph, Photocopy of Passport, Citizenship certificate (if available), Certificate or     approval from our authority for exporting manpower, Nomination of Nominee.
Download Foreign Currency Account Opening Form
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