Regulatory Alerts2022-08-01
Added
FEPD Circular No. 19: Interest rate ceiling on Non-resident Foreign Currency Deposit (NFCD) Accounts
The document establishes annual interest rate ceilings for Non-resident Foreign Currency Deposit (NFCD) accounts based on the benchmark reference rate in the relevant currency. For deposits with a period of one year up to three years, the ceiling is set at the benchmark reference rate plus 2.25 percent, while deposits above three years up to five years are capped at the benchmark reference rate plus 3.25 percent. These rates apply to all Authorized Dealers in foreign exchange in Bangladesh to ensure uniformity with previous instructions regarding fresh deposits.
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fx
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