BB: NRBs can open foreign currency deposit account

Bangladesh-Bank

Source: dhakatribune.com

All non-resident Bangladesh nationals (NRB) and persons of Bangladesh origin including those have dual nationality and originally residing abroad are permitted to open Non-Resident Foreign Currency Deposit (NFCD) accounts with the Authorized Dealers (ADs), Bangladesh Bank said at a circular Monday.

According to the circular, account-holders can maintain the accounts as long as they desire and the eligible persons are also allowed to open such accounts at any time after their return to Bangladesh, reports BSS.

“This is to clarify that NRBs may, after their return to Bangladesh, open NFCD accounts with ADs to credit their retirement benefits, periodical pensions, superannuation benefits as per employment agreement with employers while on service abroad,” said BB in its circular.

The balances held in the accounts may be used for settlement of legitimate payment abroad, subject to production of documentary evidence and deduction of applicable taxes.

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