Private FOREIGN CURRENCY ACCOUNT
OPENING OF SHARIAH BASED FC ACCOUNTS:
Bangladesh Bank, the Central Bank of Bangladesh, has authorized the Banks to open and maintain various Foreign Currency Accounts through authorized dealer branches.
Foremost information to open & maintain various FC Accounts with Standard Bank Ltd. in light of Bangladesh Bank Guidelines is appended below:
» Who are Eligible: Foreign Nationals residing/working abroad or in Bangladesh, Foreign
Missions and their expatriate employees, Foreign Firms registered abroad and operating in
Bangladesh or abroad and Bangladesh nationals working in foreign/international organizations
in Bangladesh with entitlement to receive salary in foreign currency.
» No initial deposit is required to open account
» What to deposit: Remittances sent from abroad through banking channel, fund sent by other
wage earners or from other FC accounts, proceeds of convertible foreign exchange viz. currency
notes, TCs, drafts etc. brought into Bangladesh by the account holders while on visit to
Bangladesh may be deposited.
» Such account may be operated through nominated person(s)
» Deposit balance may be used: to send abroad through banking channel or to encash in BDT
for local disbursement, can take currency notes or TC in abroad.
» Account Nature: Normally are of saving nature. Balance may be treated as 1/3/6/12 month
basis. Can maintain even after permanent return in Bangladesh.
» Profit: Profit may be given on such accounts being maintained in the form of term deposit for
the period of 1/3/6/12 months. Can be given profit on such accounts not specifically maintained
as term deposit for balances not less that USD 1000, GBP 500 or equivalent lying in the accounts
for one month or longer period.
» A/C Opening Requirements: 2 copies of recent PP size Photograph, Photocopy of Passport,
Photocopy of work permit, salary certificate or employer’s certificate, Letter of authority (for
nominee), Specimen signature card which is used both for the account holder and the nominee.