Regulatory Alerts2024-10-31
Added
FE Circular No. 28: Interest/profit on Resident Foreign Currency Deposit accounts
The prescribed rate of interest or profit on Resident Foreign Currency Deposit accounts maintained for a minimum of one month is withdrawn. Authorized Dealers in Foreign Exchange in Bangladesh are now permitted to determine the interest or profit rate based on banker-customer relations. Other relevant instructions remain unchanged.
Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. www.bb.org.bd FE Circular No. 28 Date : October 31, 2024 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Interest/profit on Resident Foreign Currency Deposit (RFCD) accounts Please refer to FE Circular Letter No 19, December 03, 2023 regarding applicability of interest/profit on balances held in Resident Foreign Currency Deposit (RFCD) accounts maintained for minimum one month. 02. To bring wider flexibility, it has been decided to withdraw the prescribed rate on account of interest/profit against RFCD accounts. Accordingly, Authorized Dealers can determine the rate of interest/profit on banker-customer relations. Other relevant instructions shall remain unchanged. Please bring the contents of the circular to the notice of your relevant clientele. Yours faithfully, (Monoar Uddin Ahmed) Director Phone: 9530119