Bangladesh Bank allows opening deposit accounts for NRBs

CNI Desk: Bangladesh Bank (BB) 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 BB circular issued on Sunday.

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