Foreign investors can now open temp Taka, Dollar accounts online
The central bank has instructed all banks to abide by the rules and regulations for opening such accounts
The Bangladesh Bank has allowed foreign investors to open temporary non-resident Taka and foreign currency accounts online under the one-stop service.
The Foreign Exchange Policy Department (FEPD) of the central bank on Monday issued a circular in this regard.
Referring to a previous circular issued by the Banking Regulation and Policy Department (BRPD) of the central bank on 11 March, the Bangladesh Bank said foreign companies can open accounts in any scheduled bank under the One Stop Service.
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"Foreign investors are required to open temporary bank accounts to bring money invested in Bangladesh. For that, foreign companies can open temporary non-resident taka and temporary foreign currency accounts online under the One Stop Service," said the central bank circular.
The central bank has instructed the banks to abide by the rules and regulations for opening such accounts. Bangladesh Bank considers this facility as another step to boost foreign investment.
According to the BRPD circular, "Online bank accounts can be opened through a combination of websites, apps or one-stop service providers to facilitate business and expedite eco-friendly banking."
Bangladesh Investment Development Authority, Bangladesh Economic Zone Authority, Bangladesh Export Processing Zone Authority and Bangladesh Hi-Tech Park and other organisations were mentioned as government agencies providing one-stop services.
