Regulatory Alerts2023-08-10
Added
FEID Circular Letter No. 05: Opening and operations of Non-resident Investor’s Taka Accounts through online platform
Authorized Dealers must develop online interactive web platforms enabling Non-resident Bangladeshis to open Non-resident Investor’s Taka Accounts electronically. These platforms must include digital forms for applicants to upload scanned documents, while Authorized Dealers are required to verify information, accept deposits via international cards or banking channels, and provide PIN codes for online account operation. Authorized Dealers must publish detailed procedures on their websites and ensure that deposit payments originate from the applicants' bank accounts abroad. This directive supplements existing regulations under FEID Circular Letter No. 02 and the Guidelines for Foreign Exchange Transactions-2018.