Regulatory Alerts2022-07-17
Added
FEPD Circular No. 15: Interest on Non-resident Foreign Currency Deposit Accounts
Authorized Dealers in Foreign Exchange in Bangladesh are temporarily permitted to raise fresh deposits under Non-resident Foreign Currency Deposit (NFCD) accounts without reference to the regulations on interest rates. This relaxation applies to accounts held by non-resident Bangladeshi nationals, persons of Bangladesh origin, foreign nationals, companies, banks, financial institutions, and 100 percent foreign owned industrial units in EPZs, EZs, or HTPs. The directive supersedes the requirement to apply the Eurocurrency deposit rate for these accounts.
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