Regulatory Alerts2023-12-03
Added
Wider scope in operations of Resident Foreign Currency Deposit (RFCD) accounts
This circular incorporates new facilities for Resident Foreign Currency Deposit (RFCD) accounts, allowing Resident Bangladeshis to open them in any approved foreign currency, including USD, EUR, GBP, JPY, AUD, CAD, CHF, CNH, and SGD. Interest or profit will now be payable on deposits maintained for a minimum of one month at a mark-up of 1.50 percent over the benchmark rate of the respective currencies. Additionally, account-holders can effect remittances for current transactions for their dependents and issue up to two supplementary International Cards to dependents against these accounts, with balances also freely encashable in Taka. Authorized Dealers in Foreign Exchange in Bangladesh are instructed to adhere to these regulatory instructions.