Private FOREIGN CURRENCY ACCOUNT

Opening of Foreign Currency 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 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.

»  Interest: Interest 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 interest 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 recent PP size Photograph, Photocopy of Passport, Photocopy of work permit, salary certificate or employer’s certificate.

Download Foreign Currency Account Opening Form