NRB International Banking (IB) Account:

The following individual or entities having bona fide relations with Non-Resident Bangladeshi (NRB) remitter can open/operate this account:

• Any Resident Bangladeshi individual (aged 18 years & above)
• Bangladeshi Corporates/Firms
• Type A, Type B, Type C industrial enterprises operating in EPZs (Export Processing Zones)/EZs (Economic Zones)/HTPs (High Tech Parks)

NRB OBU FC Account:

• Person resident outside Bangladesh including NRBs
• Foreign nationals
• Persons of Bangladeshi origin (Bangladeshi holding foreign citizenship)
• Companies/Firms registered and operating abroad
• Foreign institutional investors
• Type A units in EPZs (Export Processing Zones, Private EPZs, Economic Zones and Hi-tech parks) in Bangladesh

NRB International Banking (IB) Account:

Document check list for Individuals:

• Copy of Valid Photo ID for account holder/ Applicant and Nominee (Such as Passport / National ID/ Birth Certificate etc.)
• Passport sized photograph. Applicant – 2 Copies, and Nominee 1 copy attested by applicant.
• Address Verification Documents if Address not Matched with Applicant Photo ID e.g., Utility Bill etc.
• An Undertaking Form (bank’s format) duly signed by the non-resident remitter. This will be required before crediting any foreign currency into the account.

Document checklist for Corporates/Firms:

• Extract of Resolution/Board Resolution
• Trade License or alternative document
• Certificate of Incorporation
• Memorandum and Articles of Association
• Updated Form X & XII
• Photo Identification of Shareholder (Top 5 Shareholder's details when Share Holder is more than 5. If the shareholder is less than 5 then all shareholder’s/All authorized Signatories for the account/The beneficial owners of the Company)
• 2 copy Passport size Photo of Shareholder (Top 5 Shareholder's details when Share Holder is more than 5. If the shareholder is less than 5 then all shareholder’s/All authorized Signatories for the account/The beneficial owners of the Company)
• An Undertaking Form duly signed by the Remitter. This will be required before crediting any foreign currency into the account.

NRB OBU FC Account:

Document check list for Individuals

• Copy of valid photo ID of applicant, i.e., passport, respective foreign country’s ID, etc.
• If the photo ID is a Bangladeshi passport, additional documents such as resident visa, foreign resident card (i.e., green card), work permit, driving license (issued by foreign authority) or any other document supporting the residency status abroad is required.
• Passport sized photograph: applicant – 2 copies, and nominee 1 copy attested by applicant.
• Address verification document required only if the declared address is different from the address in the applicant’s Photo ID document. This can be utility bill, driving license (issued by foreign authority) etc.

Document check list for OBU account for companies/firms registered and operating abroad.

• Extract of Resolution/Board Resolution
• Trade License or similar document
• Certificate of Incorporation
• Memorandum and Articles of Association
• Updated Schedule X & Form XII or any recent document that proves shareholding information and names of the Board of Directors with respective designation.
• Photo identification of shareholders (Top 5 shareholders’ details required when shareholders are more than 5. If the shareholders are less than 5, then all shareholders’/ all authorized signatories for the account/ the beneficial owners of the Company)
• 2copy passport size photo of each shareholder (Top 5 shareholders’ details required when shareholders are more than 5. If the shareholders are less than 5, then all shareholders’/ all authorized signatories for the account/ the beneficial owners of the Company)

1. What is NRB OBU Account?

Answer: Account that can be opened by Residents outside Bangladesh in foreign currency. For example: Non-resident Bangladeshi nationals (NRBs), Persons of Bangladeshi origin (Bangladeshi holding foreign citizenship), Foreign nationals, Companies/Firms registered and operating abroad, Foreign institutional investors etc. can open this OBU account.

2. Who can open a NRB OBU FC Account?

Answer: Eligibility

• Person resident outside Bangladesh including NRBs
• Foreign nationals
• Persons of Bangladeshi origin (Bangladeshi holding foreign citizenship)
• Companies/Firms registered and operating abroad
• Foreign institutional investors
• Type A units in EPZs (Export Processing Zones, Private EPZs, Economic Zones and Hi-tech parks) in Bangladesh

3. What is the minimum required amount to open the account?

Answer: The account can be opened with Zero balance.

4. Is there any maximum deposit limit for this account?

Answer: There is no maximum deposit limit for this account. Customer can deposit unlimited FC amount.

5. Can a customer open a NRB OBU Account jointly?

Answer: Yes. Customer can open account jointly. But in such cases both the account holders must individually qualify to open the account as per question 1 or 2 above.

6. Can an existing NRB Bank customer open NRB OBU Account?

Answer: Yes, any existing NRB Bank customer can open the account if he/she qualifies for OBU account as per question 1 or 2 above.

7. What are the currency options for customers to open NRB OBU Account?

Answer: Customers can open the account in currency USD/GBP/Euro/JPY or any other approved foreign currencies (subject to availability of Nostro). FAQ_ NRB OBU Account

8. Can a single customer open the account in USD & EURO simultaneously?

Answer: Yes, a customer can open the account in both USD and EURO as per his/her requirement.

9. How can account holder credit/deposit the fund in his accounts?

Answer: Fund can be credited through inward foreign remittances received through official channels only.

10. Who can send funds (originator) to the NRB OBU Account?

Answer: Anyone can send funds to the account from any country.

11. How will the customer use the deposit amount of the account?

Answer: The balance of the accounts can be used for any of the following purposes:
1. Transfer to any BDT accounts to meet necessary payments.
2. Invest in both Foreign Currencies (USD & EURO) and BDT with attractive interest rate.

12. What documents are required to open NRB OBU Account?

Answer: Document check list for Individuals

• Copy of valid photo ID of applicant, i.e., passport, respective foreign country’s ID, etc.
• If the photo ID is a Bangladeshi passport, additional documents such as resident visa, foreign resident card (i.e., green card), work permit, driving license (issued by foreign authority) or any other document supporting the residency status abroad is required.
• Passport sized photograph: applicant – 2 copies, and nominee 1 copy attested by applicant.
• Address verification document required only if the declared address is different from the address in the applicant’s Photo ID document. This can be utility bill, driving license (issued by foreign authority) etc.

Document check list for OBU account for companies/firms registered and operating abroad.

• Extract of Resolution/Board Resolution
• Trade License or similar document
• Certificate of Incorporation
• Memorandum and Articles of Association
• Updated Schedule X & Form XII or any recent document that proves shareholding information and names of the Board of Directors with respective designation.
• Photo identification of shareholders (Top 5 shareholders’ details required when shareholders are more than 5. If the shareholders are less than 5, then all shareholders’/ all authorized signatories
for the account/ the beneficial owners of the Company)
• 2copy passport size photo of each shareholder (Top 5 shareholders’ details required when shareholders are more than 5. If the shareholders are less than 5, then all shareholders’/ all
authorized signatories for the account/ the beneficial owners of the Company)

13. Can a customer include multiple nominees to the NRB OBU Account?

Answer: Yes, the customer can include multiple nominees to the account. For each nominee, photo identification document and one copy passport sized photograph is required. 14. Is there any cheque book facility available against NRB OBU Account? Answer: There is no cheque book facility available.

15. Can customers avail any Credit card or Debit card against NRB OBU Account?

Answer: Debit/Credit card facility against this account is not available.

16. How the account will be operated without any Cheque Book or Debit Card?

Answer: The account can be operated by sending remittance or transfer instructions to the bank.

17. Is it possible to deposit Dollar/EURO in cash form?

Answer: Funds can be credited by inward remittances received through official channels only.

18. Is it possible to withdraw amount from the account in cash form?

Answer: Cash withdrawal is not possible from this account.

19. What is the procedure of transferring the balance from NRB OBU Account to an onshore local currency account?

Answer: NRB OBU Account customers can transfer funds from the account to any local currency
account by applying to the bank through the Remittance Request Form.

20. Can a customer open NRB OBU Account in Islamic mode?

Answer: Currently Prime OBU FC Account is available only in conventional mode.

21. Is FCY endorsement in passport allowed while traveling against available balance in NRB OBU Account?

Answer: Foreign currency endorsement in passport is not allowed against available balance in Prime OBU FC Account. FAQ_ NRB OBU Account

22. Are NRB OBU Account customers allowed to avail NRB click, the internet banking app of NRB Bank?

Answer: Yes. NRB click can be used by individual account holders for viewing purpose only.

23. Is there any limit on the number of transactions to a single NRB OBU Account?

Answer: There is no limit on the number of transactions in the account.

24. Is there any fees and charges for maintaining NRB OBU Account?

Answer: Details of the fees and charges are given below:

• Type of Charge Amount
• Account Maintenance Fee: Free
• Closing of Account: Free
• SMS Alert Fee: Free
• FDD & FTT: FREE
• SWIFT Charge: Free
• Correspondent Bank Fee: At Actual

25. What information is required to send remittances to any NRB Bank account from abroad?

Answer: To send remittances, please use below information: SWIFT Code of NRB Bank:
Bank Name: NRB Bank
Customer’s NRB OBU Account Number: ………………………………………….
Account Name: ………………………………………….

26. Is the balance in NRB OBU Account freely transferable abroad?

Answer: Yes. The balance in NRB OBU account is freely transferable abroad as account holder desires. FAQ_ NRB OBU Account

27. What will be the conversion rate if a customer wants to convert the NRB OBU Account

balance to an on-shore BDT account? Answer: The bank will use the prevailing TT clean Buying rate of the bank on the date of the conversion.

28. Is remittance incentive paid by the Government applicable for NRB OBU Account?

Answer: Remittance incentive is not applicable for the account deposits or encashment.

29. If customer have NRB OBU Account in one currency, can s/he send outward remittance in other currency?

Answer: Yes. In this case, cross currency conversion will take place for the outward remittance.

30. Is there any tax or any duty applicable on the deposit or interest?

Answer: No. As per new Offshore Banking Act passed by National Parliament of Bangladesh on 14 March 2024, depositors are exempted from any tax on the balance of the account and on any interest paid against investment. Also no excise duty is applicable on the balance of the account.

1. What is NRB International Banking (IB) Account?

Answer: The International Banking (IB) Account is an account that can be opened by Resident Bangladeshi individual or any Corporate/Firm in foreign currency in foreign currency in offshore banking unit (OBU) of the bank on behalf of persons resident and residing abroad (Non-Resident).

2. Who can open NRB International Banking (IB) Account?

Answer: The following individual or entities having bona fide relations with Non-Resident Bangladeshi
(NRB) remitter can open/operate this account:

• Any Resident Bangladeshi individual (aged 18 years & above)
• Bangladeshi Corporates/Firms
• Type A, Type B, Type C industrial enterprises operating in EPZs (Export Processing Zones)/EZs (Economic Zones)/HTPs (High Tech Parks)

3. Does account holder need to share any proof of bona fide relation with the remitter?

Answer: As a proof of bona fide relation with account holder, needs to submit an indemnity (banks prescribed format) issued & duly signed by the (NRB) remitter.

4. What is the function of NRB International Banking (IB) Account holder?

Answer: NRB IB Account holder will act as the facilitator of the (NRB) remitter and utilize the funds accordingly. The facilitator will operate the account as the sole account holder.

5. What is the minimum required amount to open the account?

Answer: The account can be opened with Zero balance.

6. Is there any maximum deposit limit for this account?

Answer: There is no maximum deposit limit for this account.

7. Can a customer open a NRB International Banking (IB) Account jointly?

Answer: Customers cannot open a NRB International Banking (IB) Account jointly.

8. Can an existing NRB Bank customer open NRB International Banking (IB) Account?

Answer: Yes, any existing NRB Bank customer can open the account if he/she qualifies for NRB IB account as per question 1 & 2 above.

9. What are the currency options for customers to open NRB International Banking (IB) Account?

Answer: Customers can open the account in USD/GBP/Euro/JPY or any other approved foreign currencies (subject to availability of Nostro). FAQ_ NRB International Banking (IB) Account

10. Can a single customer open the account in any approved foreign currency simultaneously for the same remitter?

Answer: Yes. A customer can open IB accounts in USD/GBP/Euro/JPY or any other approved foreign currencies (subject to availability of Nostro) for the same remitter as per their requirement.

11. Can a NRB International Banking (IB) Account have multiple remitter?

Answer: No. Multiple remitters cannot remit Foreign Currency in one NRB IB Account. Remittance has to be sent by the one declared remitter only. However, NRB IB account holder can open multiple accounts for different remitters.

12. Can a facilitator open & operate NRB International Banking (IB) Accounts simultaneously for more than one remitter?

Answer: Yes. A facilitator can open & operate multiple NRB International Banking (IB) Accounts simultaneously for more than one remitter.

13. Who can credit/deposit fund in the account?

Answer: Only the declared remitter can remit fund in the account.

14. How can the fund be credited/deposited?

Answer: Fund can be credited through inward foreign remittances received through official channels only.

15. How will the customer use the deposit amount of the account?

Answer: The balance of the accounts can be used for any of the following purposes:
a. Transferring to on-shore banking BDT accounts to meet necessary payments and investments
b. Making outward remittances of the entire balance as and when necessary to the person who remitted the funds (Remitter).

16. What documents are required to open NRB International Banking (IB) Account?

Answer: Document check list for Individuals:

• Copy of Valid Photo ID for account holder/ Applicant and Nominee (Such as Passport / National ID/ Birth Certificate etc.)
• Passport sized photograph. Applicant – 2 Copies, and Nominee 1 copy attested by applicant.
• Address Verification Documents if Address not Matched with Applicant Photo ID e.g., Utility Bill etc.
• An Undertaking Form (bank’s format) duly signed by the non-resident remitter. This will be required before crediting any foreign currency into the account.

Document checklist for Corporates/Firms:

• Extract of Resolution/Board Resolution
• Trade License or alternative document
• Certificate of Incorporation
• Memorandum and Articles of Association
• Updated Form X & XII
• Photo Identification of Shareholder (Top 5 Shareholder's details when Share Holder is more than 5. If the shareholder is less than 5 then all shareholder’s/All authorized Signatories for the
account/The beneficial owners of the Company)
• 2 copy Passport size Photo of Shareholder (Top 5 Shareholder's details when Share Holder is more than 5. If the shareholder is less than 5 then all shareholder’s/All authorized Signatories for the account/The beneficial owners of the Company)
• An Undertaking Form duly signed by the Remitter. This will be required before crediting any foreign currency into the account.

17. Can a customer include multiple nominees to the NRB International Banking (IB) Account?

Answer: Yes, the customer can include multiple nominees to the account. For each nominee, photo dentification document and one copy passport sized photograph is required.

18. Is there any cheque book facility available against NRB International Banking (IB) Account?

Answer: There is no cheque book facility available.

19. Can customers avail any Credit card or Debit card against the NRB International Banking (IB) Account?

Answer: Debit/Credit card facility against this account is not available.

20. How the account will be operated without any Cheque Book or Debit Card?

Answer: The account can be operated by sending remittance or transfer instructions to the bank.

21. Is it possible to deposit Dollar/EURO in cash form?

Answer: Funds can be credited by inward remittances received through official channels only. Cash deposit is not allowed.

22. Is it possible to withdraw amount from the account in cash form?

Answer: Cash withdrawal is not possible from the account.

23. What is the procedure of transferring the balance from NRB OBU IB Account to an onshore local currency account?

Answer: NRB OBU IB Account customers can transfer funds from the account to any local currency account through the Remittance Request Form.

24. Can a customer open the NRB International Banking (IB) Account in Islamic mode?

Answer: Currently NRB OBU IB Account is available only in conventional mode.

25. Is FCY endorsement in passport allowed while traveling against available balance in the NRB International Banking (IB) Account?

Answer: Foreign currency endorsement in passport is not allowed against available balance in the NRB International Banking (IB) Account.

26. Are the NRB International Banking (IB) Account customers allowed to avail NRBclick, the internet banking app of NRB Bank?

Answer: Yes. NRBclick can be used by individual account holders for viewing purpose only.

27. Is there any limit on the number of transactions to a NRB International Banking (IB) Account?

Answer: There is no limit on the number of transactions in the account.

28. Is there any fees and charges for maintaining NRB International Banking (IB) Account?

Answer: Details of the Fees and Charges are given below:

• Type of Charge: Amount
• Account Maintenance Fee: Free
• Closing of Account: Free
• SMS Alert Fee: Free
• FDD & FTT: Free
• SWIFT Charge at Actual: Free
• Correspondent Bank Fee: At Actual

29. What information is required to send remittances to any NRB Bank account from abroad?

Answer: To send remittances, please use below information:
SWIFT Code of NRB Bank:
Bank Name:
Customer’s NRB International Banking (IB) Account Number: ………………………………………….
Account Name: ………………………………………….

30. Is the balance in NRB International Banking (IB) Account freely transferable abroad?

Answer: Yes. The balance in Prime OBU IB Account is freely transferable abroad. However, the funds can only be sent to the remitter of funds on whose behalf the account is opened.

31. What will be the conversion rate if a customer wants to convert the NRB International Banking (IB) Account balance to an on-shore BDT account?

Answer: The bank will use the prevailing TT clean Buying rate of the bank on the date of the conversion.

32. Is remittance incentive paid by the Government applicable for NRB International Banking (IB) Account?

Answer: Remittance incentive is not applicable for the account deposits or encashment.

33. If customer have NRB International Banking (IB) Account in one currency, can s/he send outward remittance in other currency?

Answer: Yes. In this case, cross currency conversion will take place for the outward remittance.

34. Is there any tax or any duty applicable on the deposit or interest?

Answer: No. As per new Offshore Banking Act passed by National Parliament of Bangladesh on 14 March 2024, depositors are exempted from any tax on the balance of the account and on any interest paid against investment. Also, no excise duty is applicable on the balance of the account.