Nonresident Foreign Currency Deposit (NFCD) Account
The accounts are in the nature of Term Deposits maturing after one month, three months, six months and one year.
The accounts may be maintained in US Dollar, Euro, Pound Sterling or Japanese Yen: initially with minimum amount of US$1000 or Pound Sterling 500 or equivalent.
Account may be opened against remittances in other convertible currencies after conversion of those into US Dollar, Euro, Pound Sterling or Japanese Yen.
These Accounts may be maintained as long as the Account Holders desire. Eligible persons are also allowed to open such Accounts within six months of their return to Bangladesh.
Eligible Bangladesh nationals may send applications along with a set of specimen signatures of the opener of the account to any AD Branch of Agrani Bank. in Bangladesh duly verified by any Bangladesh Mission abroad, or a reputable Bank or any other person known to the AD Branch of Agrani Bank in Bangladesh.
The Application Forms may be procured from Bangladesh Missions Abroad and from any AD Branch of Agrani Bank.
In Bangladesh. No set of specimen signatures will be required to be enclosed with the application form if the application is submitted to an AD with whom the applicant has already been holding a Foreign Currency Account. In such a case reference to the respective FC account number will serve as self-introduction and the account-opening branch will verify the signature with the specimen signature maintained for the FC account.
The Account Holder can freely repatriate the balance and the interest accrued thereon in foreign exchange to the country of his residence or anywhere he chooses and may at his option; convert the balance into local Taka at the prevailing exchange rate.