Expatriate Bangladeshis can open bank accounts online

Expatriate Bangladeshi investors can now open an account online in any bank in the country. By changing the rules for opening and managing bank accounts, Bangladesh Bank has also informed that transactions in taka can be made through the AD (Authorized Dealer) branch of any bank operating in Bangladesh.

In a circular on Thursday, Bangladesh Bank said that non-residents should have the opportunity to fill in the information and submit the necessary documents on the bank's online platform.

After receiving the application, the bank can verify it online and open a bank account in Bangladeshi currency- Taka.

For this purpose, the central bank has said that the customer can make deposits through international cards as well with instructions to take necessary technical measures. For this reason, banks have been asked to add international transaction facilities to their websites.

Branches of Bangladesh Bank authorized for foreign transactions are known as ADs. This branch can deal with foreign currency including import and export.

In order to increase the supply of foreign currency, Bangladesh Bank allowed opening of temporary FC (Foreign Currency) account in the name of the proposed company against possible foreign investment before the approval and registration of the company in Bangladesh last June.

Earlier in January, Bangladesh Bank had eased the process of opening 'NITA' accounts for non-resident Bangladeshis and foreign investors.

‘Non-Resident Investors Taka Account-NITA’ is a bank account in Taka managed by non-residents for investment in Bangladesh. Against foreign currency, an equivalent amount of local currency-Taka is deposited in NITA.