Regulatory Alerts2018-07-24
Added · Updated
FEPD Circular No. 23: Interest Rate on Resident Foreign Currency Deposit (RFCD) Accounts
Authorized Dealers in Foreign Exchange in Bangladesh may now apply interest on Resident Foreign Currency Deposit (RFCD) account balances at Eurocurrency deposit rates. This change supersedes the previous requirement that interest rates be set at one quarter percent (0.25%) less than the rate paid on balances in foreign currency clearing accounts maintained with Bangladesh Bank. The instruction is effective immediately, and all other existing instructions regarding RFCD accounts remain unchanged.
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