Title of the Account:

Offshore Banking Account for Non-Resident

International Banking Account for Resident

Deposit in Account:

only from inward remittances;

Utilization of balance of account by customer:

• Transferring funds to on-shore bank accounts for necessary payments, settle liabilities and various investments.
• Making outward remittances in favour of remittance senders.

Type of A/Cs:

• Al-Wadiah FC Account.
• Mudaraba Term Deposit: 03/06/12 months or 02/03/04/05 years

Eligibility of the persons/firms

• Any individual/entity not resident in Bangladesh can easily open these accounts directly in their own name with our Offshore Banking Unit through online portal;
• Resident Bangladeshi individuals and corporate entities including Type-A, Type-B, and Type-C industrial enterprises operating in EPZs/EZs/HTPs can open and operate an International Banking Account as a facilitator of non-resident remitters.

Currency of the A/Cs:

• Account may be opened in USD, EUR, GBP, YEN and CNY;

Required documents for opening A/Cs:

Individual Account:

• Account Opening Form to be duly filled in and signed by applicant.
• Photocopy of valid NID/ Passport / Driving License.
• Two copies passport size photographs of Applicant- self attested;
• One copy of photograph and copy of NID of Nominee (attested by the Applicant)

Proprietorship Account:

• Account Opening Form to be duly filled in and signed by applicant.
• Photocopy of valid NID/ Passport / Driving License.
• Two copies passport size photographs of applicant.
• Copy of the updated trade license.

Partnership Account:

• Account Opening Form to be duly filled in and signed by applicants.
• Two copies passport size photographs of applicants.
• Photocopy of valid NID/ Passport / Driving License.
• Copy of the partnership deed of the firm.
• Copy of the updated trade license.
• Copy of the firm’s certificate of registration (If registered)
• All applicants must fill the individual information form.

Limited Company:

• Account Opening Form to be duly filled in and signed by applicants.
• Two copies passport size photographs of each applicant.
• Photocopy of valid NID/ Passport / Driving License.
• Copy of Certificate of Incorporation.
• Copy of Memorandum and Articles of Association.
• Copy of Letter Commencement of Business. (For PLC)
• Board resolution of the Firms/Company, in case account is opened in the name of Firm/ Company,
• Copy of the updated trade license.
• Copy of Form-XII and Schedule-X.

Minimum Balance & Profit rate:

• For Al-Wadiah Current Account Minimum Balance: USD 1000 or equivalent FC.
• No profit will be applicable.
• For Mudaraba Term Deposit Minimum Balance: USD 3000 or equivalent FC.
• Provisional profit rate will be declared by the bank from time to time but within ceiling given by Bangladesh Bank;

Indicative profit rate for OBU account:

Maintenance Fee:

• no fee applicable

TAX & Excise Duty:

• not applicable