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Bangladesh Bank allows deposit account for NRBs


Bangladesh Bank allows deposit account for NRBs

Bangladesh Bank has asked scheduled banks to open deposit accounts for non-resident Bangladeshis (NRBs) to encourage them, who are working abroad, in saving their hard-earned money in Bangladesh.

“The deposit accounts in the name of NRBs may be opened in the form of savings for a period of one year and above. The accounts may also be opened without initial installment for the persons proceeding abroad for employment,” as per a central bank circular issued today.

Besides, the deposit accounts will be credited in the local currency – Bangladesh Taka (BDT) – after conversion of foreign currency properly, the release added.

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