<div><span style="font-size: 1rem;">Bangladesh Bank has allowed authorized dealers (ADs) to open interest-bearing non-resident foreign currency deposit (NFCD) accounts in order to increase foreign currency flow.</span><br></div><div><br></div><div>The non-resident Bangladeshi nationals and persons of Bangladesh origin, including those having dual nationality and ordinarily residing abroad, will be eligible for opening such deposit account, said a circular of BB.</div><div><br></div><div>The BB's Foreign Exchange Policy Department (FEPD) issued a circular on Sunday and sent it to all ADs in foreign exchange in Bangladesh to effect the notification immediately.</div><div><br></div><div>The circular stated, “.....ADS have been permitted temporarily to raise deposits under NFCD accounts without reference to the interest rate mentioned in the BB’s foreign exchange guidelines.”</div><div><br></div><div>These relaxations will also be applicable for NFCD accounts to be mentioned by foreign nationals and companies/ firms registered or incorporated abroad, banks, and other financial institutions, including institutional investors, and 100 per cent foreign-owned industrial units in the export processing zones and Economic Zones in the country. - UNB</div><div><br></div><div>bnbd24/fas</div>