Relaxation of Reporting Requirement of Temporary Non-resident Taka Accounts and Temporary Foreign Currency Accounts for Foreign Investment

Foreign Exchange Investment Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FEID Circular No. 03 Date: 30 September 2025 All Authorized Dealers in Foreign Exchange in Bangladesh Dear Sirs, Relaxation of Reporting Requirement of Temporary Non-resident Taka Accounts (NRTAs) and Temporary Foreign Currency (FC) Accounts for Foreign Investment Please refer to paragraph 2(C), Chapter 9 of the Guidelines for Foreign Exchange Transactions-2018 (GFET) Volume-1, which outlines the reporting requirements of NRTA for a proposed company to Foreign Exchange Investment Department (FEID), Bangladesh Bank (BB) and FE Circular No. 10 date: 21 June 2023 regarding maintaining of temporary foreign currency (FC) accounts for foreign investment. 2. To facilitate foreign investment, it has now been decided to relax the reporting requirement of NRTAs and temporary FC accounts for foreign investment as follows: A) Henceforth, it is no longer required to report the opening of NRTAs and temporary FC accounts to FEID, BB. After incorporation of the company in Bangladesh, against which such account has been opened, the Authorized Dealer (AD) shall notify FEID, BB in accordance with paragraph 2(A), Chapter 9 of the GFET-2018, Volume-1 within 14 (fourteen) days with all relevant documents including encashment certificate with online transaction ID, NRTA and/or temporary FC account statement, and statement of the permanent account reflecting the corresponding debit and credit entries. B) The AD may encash the fund into BDT or retain it in foreign currency for up to 1 (one) year as per FE Circular No. 10, date: 21 June 2023. If foreign investment fund is encashed, the investor may submit form-C in electronic form in accordance with FE Circular No. 01, date: 01 February 2023 and subsequently the company authority/representative will sign the printed copy of the electronic form-C within 14 (fourteen) days after the incorporation of the company. Accordingly, AD shall notify FEID, BB along with the documents mentioned in (A) above. C) If, for any reason, the proposed investment/incorporation does not take place, the balance of the account, after meeting the required expenses, may be repatriated without prior approval from Bangladesh Bank. However, ADs shall report closure of such accounts to FEID and FEOD, Head office/concerned office of Bangladesh Bank within 14 (fourteen) days along with an attested copy of form-C and TM form (as applicable), both inward and outward foreign exchange transactions ID, and NRTA and/or temporary FC account statement. Please bring the instructions of this circular to the notice of all your concerned clientele. This circular will come into force immediately. Yours Faithfully,

(Abu Saleh Mohammed Shahab Uddin) Director (FEID) Phone: +88-02-9530144